ONEOK, Inc. (NYSE:OKE) Shares Acquired by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,044,615 shares of the utilities provider’s stock after acquiring an additional 71,556 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ONEOK were worth $104,879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the period. Janus Henderson Group PLC grew its position in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in ONEOK by 15.2% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares during the period. Finally, Barclays PLC lifted its holdings in shares of ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock valued at $172,131,000 after purchasing an additional 262,486 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OKE shares. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $104.15.

ONEOK Stock Down 3.8 %

Shares of OKE stock opened at $96.57 on Tuesday. The stock’s 50 day simple moving average is $100.83 and its 200 day simple moving average is $99.35. ONEOK, Inc. has a twelve month low of $75.69 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed 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. This represents a $4.12 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

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.