Oppenheimer Asset Management Inc. Has $3.51 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Oppenheimer Asset Management Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% during the fourth quarter, HoldingsChannel reports. The fund owned 34,918 shares of the utilities provider’s stock after buying an additional 557 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ONEOK were worth $3,506,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK during the fourth quarter worth about $40,000. Access Investment Management LLC bought a new position in shares of ONEOK during the third quarter worth about $37,000. Versant Capital Management Inc raised its position in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in ONEOK in the 4th quarter valued at approximately $58,000. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKE. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial lifted 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. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Stock Performance

Shares of NYSE OKE opened at $100.29 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $62.62 billion, a P/E ratio of 20.98, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $74.39 and a 12 month high of $118.07. The stock has a 50 day moving average of $100.91 and a 200-day moving average of $99.19.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.11%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

About ONEOK

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.