Blackston Financial Advisory Group LLC increased its position in ONEOK, Inc. (NYSE:OKE – Get Rating) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,795 shares of the utilities provider’s stock after acquiring an additional 293 shares during the period. Blackston Financial Advisory Group LLC’s holdings in ONEOK were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ONEOK by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 51,774,594 shares of the utilities provider’s stock valued at $3,656,839,000 after buying an additional 1,043,147 shares in the last quarter. State Street Corp grew its holdings in shares of ONEOK by 1.0% during the 2nd quarter. State Street Corp now owns 33,164,685 shares of the utilities provider’s stock worth $1,840,640,000 after purchasing an additional 339,036 shares during the period. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,288,822 shares of the utilities provider’s stock worth $514,810,000 after purchasing an additional 527,138 shares during the period. Cowa LLC lifted its position in shares of ONEOK by 9,775.0% during the first quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider’s stock worth $3,761,000 after purchasing an additional 5,270,510 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in ONEOK by 3.1% in the second quarter. Northern Trust Corp now owns 4,985,305 shares of the utilities provider’s stock valued at $276,686,000 after purchasing an additional 148,165 shares during the period. 67.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on OKE. Citigroup initiated coverage on shares of ONEOK in a report on Thursday, December 8th. They issued a “neutral” rating and a $67.00 target price for the company. Raymond James lifted their price target on ONEOK from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, January 23rd. Truist Financial boosted their target price on ONEOK from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, December 21st. Morgan Stanley upped their target price on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Finally, JPMorgan Chase & Co. raised ONEOK from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $71.00 to $75.00 in a report on Tuesday, January 10th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.30.
ONEOK Trading Down 0.5 %
ONEOK (NYSE:OKE – Get Rating) last announced its earnings results on Tuesday, November 1st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $6.52 billion. ONEOK had a net margin of 7.10% and a return on equity of 26.46%. Equities research analysts anticipate that ONEOK, Inc. will post 3.79 earnings per share for the current fiscal year.
ONEOK Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Monday, January 30th will be issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a yield of 5.63%. This is a positive change from ONEOK’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, January 27th. ONEOK’s payout ratio is presently 106.11%.
ONEOK Company Profile
ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.
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