Fisher Asset Management LLC Buys 7,087 Shares of ONEOK, Inc. (NYSE:OKE)

Fisher Asset Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 103.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,926 shares of the utilities provider’s stock after acquiring an additional 7,087 shares during the period. Fisher Asset Management LLC’s holdings in ONEOK were worth $1,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter worth about $40,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth about $37,000. Versant Capital Management Inc raised its holdings in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in ONEOK during the fourth quarter worth about $58,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Price Performance

ONEOK stock opened at $91.95 on Thursday. The company has a market capitalization of $57.40 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month 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’s 50 day moving average is $100.45 and its 200-day moving average is $99.34.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Equities research analysts expect 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. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.48%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

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.