ONEOK, Inc. (NYSE:OKE) Stock Holdings Lifted by United Services Automobile Association

United Services Automobile Association lifted its position in ONEOK, Inc. (NYSE:OKE) by 3.3% in the 4th quarter, Holdings Channel reports. The fund owned 13,021 shares of the utilities provider’s stock after buying an additional 418 shares during the period. United Services Automobile Association’s holdings in ONEOK were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK during the fourth quarter worth $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK during the fourth quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK in the fourth quarter valued at about $51,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $99.45 on Monday. The stock’s fifty day simple moving average is $98.94 and its 200 day simple moving average is $99.92. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The firm has a market cap of $62.09 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS 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 business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.14%. ONEOK’s dividend payout ratio is currently 79.69%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. 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 report on Monday, February 10th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.