Ipsen Advisor Group LLC Acquires Shares of 5,784 ONEOK, Inc. (NYSE:OKE)

Ipsen Advisor Group LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,784 shares of the utilities provider’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds also recently modified their holdings of OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC grew its holdings in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Amundi increased its stake in ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock worth $422,261,000 after buying an additional 207,324 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on OKE shares. Wells Fargo & Company dropped their target price 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. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Up 0.1 %

NYSE:OKE opened at $102.42 on Wednesday. The firm has a market capitalization of $63.94 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. 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 stock has a 50 day moving average of $98.84 and a 200-day moving average of $100.07.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.02%. ONEOK’s dividend payout ratio (DPR) 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.