ONEOK, Inc. (NYSE:OKE) Shares Bought by Principal Securities Inc.

Principal Securities Inc. grew its stake in ONEOK, Inc. (NYSE:OKE) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,954 shares of the utilities provider’s stock after purchasing an additional 563 shares during the quarter. Principal Securities Inc.’s holdings in ONEOK were worth $397,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its holdings 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 acquiring an additional 11,189 shares in the last quarter. abrdn plc grew its holdings in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its holdings in shares of ONEOK by 15.2% in 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 buying an additional 263,545 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 0.6 %

Shares of OKE stock opened at $98.07 on Friday. The stock has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $72.44 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $101.19 and its two-hundred day moving average price is $98.76.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven 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’s stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.