Vestcor Inc Raises Stake in ONEOK, Inc. (NYSE:OKE)

Vestcor Inc raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 26.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 26,507 shares of the utilities provider’s stock after purchasing an additional 5,493 shares during the period. Vestcor Inc’s holdings in ONEOK were worth $2,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. FNY Investment Advisers LLC increased its position in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after buying an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of ONEOK by 222.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after purchasing an additional 11,160 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in ONEOK by 130.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after purchasing an additional 58,649 shares in the last quarter. Finally, Simon Quick Advisors LLC purchased a new stake in ONEOK during the 4th quarter valued at about $251,000. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays lowered their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Price Performance

Shares of NYSE:OKE opened at $96.52 on Friday. The firm’s 50 day moving average price is $99.21 and its 200-day moving average price is $99.49. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $60.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 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 net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed 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 represents a $4.12 annualized dividend and a dividend yield of 4.27%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.