National Bank of Canada FI Grows Position in ONEOK, Inc. (NYSE:OKE)

National Bank of Canada FI raised its position in ONEOK, Inc. (NYSE:OKE) by 46.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,019,656 shares of the utilities provider’s stock after purchasing an additional 321,671 shares during the quarter. National Bank of Canada FI’s holdings in ONEOK were worth $102,420,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OKE. FNY Investment Advisers LLC raised its holdings in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC increased its stake in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares during the period. Simon Quick Advisors LLC purchased a new stake in ONEOK in the fourth quarter worth $251,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in ONEOK in the 4th quarter worth about $9,483,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE stock opened at $99.37 on Wednesday. The firm has a 50-day simple moving average of $97.91 and a two-hundred day simple moving average of $100.36. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The firm has a market cap of $62.04 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its 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 during the quarter, compared to analysts’ expectations 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 announced 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 is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.15%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

Several research firms have issued reports on OKE. Wells Fargo & Company lowered their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Wolfe Research raised shares of 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. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.