O Shaughnessy Asset Management LLC Has $7.16 Million Holdings in ONEOK, Inc. (NYSE:OKE)

O Shaughnessy Asset Management LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 19.2% in the fourth quarter, Holdings Channel reports. The fund owned 71,355 shares of the utilities provider’s stock after acquiring an additional 11,506 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ONEOK were worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in ONEOK by 1.7% during the 4th quarter. Clearbridge Investments LLC now owns 1,976,864 shares of the utilities provider’s stock valued at $198,477,000 after purchasing an additional 32,484 shares during the period. ClearBridge Investments Ltd bought a new stake in shares of ONEOK in the fourth quarter valued at approximately $177,045,000. Summit Securities Group LLC acquired a new stake in shares of ONEOK in the fourth quarter worth $6,144,000. Schroder Investment Management Group increased its position in ONEOK by 3.5% during the fourth quarter. Schroder Investment Management Group now owns 117,842 shares of the utilities provider’s stock worth $11,876,000 after acquiring an additional 3,947 shares during the period. Finally, Cambridge Financial Group Inc. acquired a new position in ONEOK during the 4th quarter valued at $9,406,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.2 %

OKE opened at $99.37 on Wednesday. The firm has a market cap of $62.04 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50-day simple moving average is $97.91 and its 200-day simple moving average is $100.36. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.15%. ONEOK’s payout ratio is presently 79.69%.

Analyst Ratings Changes

Several research firms have issued reports on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective 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. Finally, Scotiabank reduced their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Company 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.