Elo Mutual Pension Insurance Co Acquires 6,533 Shares of ONEOK, Inc. (NYSE:OKE)

Elo Mutual Pension Insurance Co lifted its stake in ONEOK, Inc. (NYSE:OKE) by 12.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 58,053 shares of the utilities provider’s stock after purchasing an additional 6,533 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in ONEOK were worth $5,829,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OKE. Raymond James Financial Inc. bought a new position in shares of ONEOK in the fourth quarter worth $182,694,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after buying an additional 1,246,963 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares during the period. GQG Partners LLC raised its position in shares of ONEOK by 217.2% in the 4th quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after buying an additional 845,715 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Down 2.5 %

NYSE:OKE opened at $98.76 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The firm’s 50 day simple moving average is $98.53 and its 200 day simple moving average is $100.07. The company has a market cap of $61.66 billion, a PE ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.