Premier Fund Managers Ltd Has $8.29 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Premier Fund Managers Ltd increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 21.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 82,250 shares of the utilities provider’s stock after acquiring an additional 14,500 shares during the quarter. Premier Fund Managers Ltd’s holdings in ONEOK were worth $8,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. boosted its holdings in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC raised its holdings in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC increased 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 acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its holdings in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several research reports. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Seven equities research 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 company’s stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $98.76 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. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The stock’s fifty day simple moving average is $98.53 and its 200-day simple moving average is $100.07. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted 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 company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend yield of 4.17%. ONEOK’s dividend payout ratio is 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.