Raymond James Trust N.A. increased its stake in shares of ONEOK, Inc. (NYSE:OKE – Get Rating) by 25.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,816 shares of the utilities provider’s stock after purchasing an additional 1,370 shares during the period. Raymond James Trust N.A.’s holdings in ONEOK were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in ONEOK by 275.5% in the first quarter. Acadian Asset Management LLC now owns 2,850 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 2,091 shares during the last quarter. Sei Investments Co. grew its position in ONEOK by 500.5% during the first quarter. Sei Investments Co. now owns 167,226 shares of the utilities provider’s stock valued at $11,812,000 after buying an additional 139,379 shares during the period. Aviva PLC increased its holdings in ONEOK by 20.7% during the first quarter. Aviva PLC now owns 161,711 shares of the utilities provider’s stock valued at $11,422,000 after buying an additional 27,697 shares during the last quarter. Prudential PLC bought a new position in ONEOK in the first quarter worth approximately $614,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of ONEOK during the 1st quarter worth $233,000. Institutional investors own 67.16% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded ONEOK from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $71.00 to $75.00 in a research note on Tuesday, January 10th. Truist Financial lifted their price objective on ONEOK from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, December 21st. Raymond James reduced their target price on shares of ONEOK from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Morgan Stanley lifted their price target on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, January 9th. Finally, Citigroup assumed coverage on shares of ONEOK in a research report on Thursday, December 8th. They issued a “neutral” rating and a $67.00 price target for the company. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.09.
ONEOK Stock Performance
ONEOK (NYSE:OKE – Get Rating) last issued its earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. ONEOK had a return on equity of 26.46% and a net margin of 7.10%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $6.52 billion. As a group, analysts anticipate that ONEOK, Inc. will post 3.82 EPS for the current fiscal year.
ONEOK Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 1st were issued a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Monday, October 31st. ONEOK’s dividend payout ratio (DPR) is presently 103.89%.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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