Robeco Institutional Asset Management B.V. Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Robeco Institutional Asset Management B.V. lifted its position in ONEOK, Inc. (NYSE:OKE) by 66.3% in the fourth quarter, Holdings Channel reports. The firm owned 252,588 shares of the utilities provider’s stock after buying an additional 100,744 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in ONEOK were worth $25,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Gateway Wealth Partners LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $689,000. BSW Wealth Partners raised its holdings in shares of ONEOK by 9.0% in the fourth quarter. BSW Wealth Partners now owns 3,268 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 270 shares in the last quarter. Bensler LLC lifted its stake in ONEOK by 3.0% in the fourth quarter. Bensler LLC now owns 4,914 shares of the utilities provider’s stock worth $493,000 after acquiring an additional 144 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in ONEOK during the 4th quarter worth about $212,000. Finally, Stonegate Investment Group LLC purchased a new position in ONEOK during the 4th quarter valued at about $221,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OKE shares. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Trading Down 0.5 %

NYSE OKE opened at $99.91 on Friday. The stock has a market cap of $58.36 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.03 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a fifty day simple moving average of $105.25 and a two-hundred day simple moving average of $96.95.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.12%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.