Sienna Gestion Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Sienna Gestion acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 56,297 shares of the utilities provider’s stock, valued at approximately $5,651,000.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in ONEOK during the 4th quarter valued at $182,694,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ONEOK during the third quarter worth about $47,957,000. National Pension Service raised its holdings in shares of ONEOK by 65.3% in the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after acquiring an additional 498,908 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new position in ONEOK during the 3rd quarter valued at about $45,194,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Barclays reduced 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 note on Friday, March 7th. UBS Group upped their price objective 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. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Up 0.5 %

Shares of OKE opened at $93.40 on Friday. The business’s 50-day moving average price is $99.34 and its 200-day moving average price is $99.43. 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 twelve month low of $76.23 and a twelve month high of $118.07. The stock has a market cap of $58.31 billion, a PE ratio of 19.54, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm 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%. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.41%. ONEOK’s dividend payout ratio is 79.69%.

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.