Pictet Asset Management Holding SA Sells 3,094 Shares of ONEOK, Inc. (NYSE:OKE)

Pictet Asset Management Holding SA reduced its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 284,808 shares of the utilities provider’s stock after selling 3,094 shares during the period. Pictet Asset Management Holding SA’s holdings in ONEOK were worth $28,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. FMR LLC grew its holdings in ONEOK by 11.7% during the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after buying an additional 122,362 shares in the last quarter. Fiduciary Trust Co boosted its position in shares of ONEOK by 41.6% in the third quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider’s stock valued at $733,000 after acquiring an additional 2,363 shares during the period. Rockefeller Capital Management L.P. grew its stake in ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after acquiring an additional 5,067 shares in the last quarter. Captrust Financial Advisors increased its holdings in ONEOK by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider’s stock worth $9,133,000 after acquiring an additional 297 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in ONEOK by 4.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 200 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on OKE shares. Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Down 0.2 %

Shares of OKE opened at $98.47 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a 50 day moving average price of $98.32 and a 200-day moving average price of $100.24. The firm has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

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