Daiwa Securities Group Inc. Purchases 1,062 Shares of ONEOK, Inc. (NYSE:OKE)

Daiwa Securities Group Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,970 shares of the utilities provider’s stock after acquiring an additional 1,062 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ONEOK were worth $8,632,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OKE. Astoria Portfolio Advisors LLC. grew its stake in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC grew its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its stake in ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the period. Mutual Advisors LLC lifted its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its stake in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on OKE. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company dropped their price objective 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. Finally, UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Up 1.3 %

NYSE:OKE opened at $92.63 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $57.83 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.77 and a beta of 1.70. The company’s 50-day simple moving average is $99.66 and its 200-day simple moving average is $99.52. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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