ONEOK, Inc. (NYSE:OKE) Stock Position Raised by Mather Group LLC.

Mather Group LLC. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 88.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the utilities provider’s stock after acquiring an additional 5,405 shares during the period. Mather Group LLC.’s holdings in ONEOK were worth $922,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in ONEOK during the fourth quarter worth approximately $297,948,000. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 21.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock worth $871,341,000 after buying an additional 2,153,295 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 77.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock valued at $216,738,000 after buying an additional 1,351,626 shares during the period. Wellington Management Group LLP boosted its stake in ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares in the last quarter. Finally, M&G Plc acquired a new position in ONEOK during the first quarter worth about $77,634,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE traded up $2.44 during mid-day trading on Wednesday, hitting $84.76. The company had a trading volume of 1,112,294 shares, compared to its average volume of 2,762,968. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The firm has a market cap of $49.47 billion, a P/E ratio of 19.54, a PEG ratio of 4.37 and a beta of 1.65. The business’s 50-day simple moving average is $81.41 and its 200-day simple moving average is $78.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter last year, the company earned $1.04 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.02 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKE. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their target price on shares of ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.50.

About ONEOK

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.