GQG Partners LLC Acquires 845,715 Shares of ONEOK, Inc. (NYSE:OKE)

GQG Partners LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 217.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,235,012 shares of the utilities provider’s stock after purchasing an additional 845,715 shares during the quarter. GQG Partners LLC’s holdings in ONEOK were worth $123,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OKE. Kieckhefer Group LLC bought a new stake in ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK in the fourth quarter valued at $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK in the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK during the 4th quarter worth about $51,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Truist Financial raised their price objective 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. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Wolfe Research raised 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, 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 report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Up 3.0 %

Shares of OKE opened at $102.34 on Tuesday. The firm has a 50 day simple moving average of $98.91 and a two-hundred day simple moving average of $99.99. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a market cap of $63.89 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared 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 an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.