Groupama Asset Managment Acquires New Position in ONEOK, Inc. (NYSE:OKE)

Groupama Asset Managment bought a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,677 shares of the utilities provider’s stock, valued at approximately $2,386,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC purchased a new position in shares of ONEOK in the fourth quarter worth $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK in the fourth quarter worth $51,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $99.37 on Wednesday. The company’s fifty day moving average price is $97.91 and its 200-day moving average price is $100.36. The stock has a market cap of $62.04 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 3.77 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 $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS 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 for the quarter, compared to analyst estimates of $6.18 billion. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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 paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.15%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend 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.