AustralianSuper Pty Ltd Makes New $18.29 Million Investment in ONEOK, Inc. (NYSE:OKE)

AustralianSuper Pty Ltd purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 182,187 shares of the utilities provider’s stock, valued at approximately $18,292,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Ritholtz Wealth Management acquired a new stake in ONEOK during the 3rd quarter worth about $206,000. Creative Planning grew its position in ONEOK by 3.2% during the 3rd quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock worth $21,965,000 after purchasing an additional 7,467 shares during the period. Asset Dedication LLC grew its position in ONEOK by 318.9% during the 3rd quarter. Asset Dedication LLC now owns 2,367 shares of the utilities provider’s stock worth $216,000 after purchasing an additional 1,802 shares during the period. Vontobel Holding Ltd. grew its position in shares of ONEOK by 1.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,575 shares of the utilities provider’s stock valued at $3,060,000 after acquiring an additional 377 shares during the period. Finally, Hengehold Capital Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at about $266,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 1.0 %

OKE opened at $97.96 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s 50 day simple moving average is $102.01 and its two-hundred day simple moving average is $97.94. ONEOK, Inc. has a 1-year low of $69.01 and a 1-year high of $118.07. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. 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 86.19%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. UBS Group raised 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. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. 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. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK 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.