CIBC Private Wealth Group LLC Has $222.56 Million Position in ONEOK, Inc. (NYSE:OKE)

CIBC Private Wealth Group LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,163,969 shares of the utilities provider’s stock after selling 88,422 shares during the period. CIBC Private Wealth Group LLC’s holdings in ONEOK were worth $222,564,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the fourth quarter worth $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the fourth quarter valued at $51,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.2 %

Shares of OKE stock opened at $98.47 on Friday. The stock has a market cap of $61.48 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $98.32 and a 200 day simple moving average of $100.17.

ONEOK (NYSE:OKE) last released its earnings results 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. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Truist Financial raised 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. Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.

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.