ONEOK, Inc. (NYSE:OKE) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in ONEOK, Inc. (NYSE:OKEGet Rating) by 15.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,688 shares of the utilities provider’s stock after acquiring an additional 5,673 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ONEOK were worth $2,186,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OKE. First Command Bank lifted its holdings in shares of ONEOK by 401.0% during the second quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the last quarter. ACG Wealth purchased a new stake in shares of ONEOK during the second quarter valued at $28,000. Worth Asset Management LLC purchased a new stake in shares of ONEOK during the first quarter valued at $30,000. EdgeRock Capital LLC purchased a new stake in shares of ONEOK during the third quarter valued at $31,000. Finally, Hallmark Capital Management Inc. purchased a new stake in shares of ONEOK during the second quarter valued at $33,000. Institutional investors and hedge funds own 67.16% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $69.60 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.67 and a quick ratio of 0.50. ONEOK, Inc. has a fifty-two week low of $50.50 and a fifty-two week high of $75.07. The stock’s 50-day moving average is $65.89 and its two-hundred day moving average is $61.27. The firm has a market cap of $31.11 billion, a P/E ratio of 19.33, a PEG ratio of 1.89 and a beta of 1.70.

ONEOK (NYSE:OKEGet Rating) last issued its earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. ONEOK had a return on equity of 26.46% and a net margin of 7.10%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.52 billion. Analysts predict that ONEOK, Inc. will post 3.82 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 30th will be issued a dividend of $0.955 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date is Friday, January 27th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 5.49%. ONEOK’s dividend payout ratio is currently 103.89%.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Wells Fargo & Company raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $68.00 to $75.00 in a report on Friday, December 16th. Raymond James reduced their target price on ONEOK from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. StockNews.com began coverage on ONEOK in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial upped their price target on ONEOK from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, December 21st. Finally, JPMorgan Chase & Co. raised ONEOK from a “neutral” rating to an “overweight” rating and upped their price target for the company from $71.00 to $75.00 in a research report on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.60.

ONEOK Profile

(Get Rating)

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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