Mirae Asset Global Investments Co. Ltd. Purchases 80,194 Shares of ONEOK, Inc. (NYSE:OKE)

Mirae Asset Global Investments Co. Ltd. lifted its position in ONEOK, Inc. (NYSE:OKE) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,013 shares of the utilities provider’s stock after purchasing an additional 80,194 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ONEOK were worth $50,012,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after acquiring an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Finally, abrdn plc increased its stake in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on OKE shares. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Performance

Shares of OKE stock opened at $97.03 on Wednesday. The business’s fifty day simple moving average is $104.24 and its 200-day simple moving average is $97.33. The company has a market cap of $56.68 billion, a PE ratio of 20.30, a PEG ratio of 3.69 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.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK’s dividend payout ratio is presently 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.