Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in ONEOK, Inc. (NYSE:OKE)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in ONEOK, Inc. (NYSE:OKE) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,944 shares of the utilities provider’s stock after selling 17,020 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ONEOK were worth $25,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK during the fourth quarter valued at approximately $48,000. OFI Invest Asset Management purchased a new position in ONEOK during the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Price Performance

Shares of OKE opened at $92.63 on Wednesday. The firm has a market capitalization of $57.83 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s fifty day moving average price is $99.66 and its 200-day moving average price is $99.52. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.45%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

ONEOK Company Profile

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.