Mizuho Securities USA LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Mizuho Securities USA LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,367 shares of the utilities provider’s stock after purchasing an additional 17,493 shares during the quarter. Mizuho Securities USA LLC’s holdings in ONEOK were worth $5,559,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC grew 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 valued at $2,208,000 after purchasing an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the period. Simon Quick Advisors LLC purchased a new position in ONEOK during the fourth quarter worth about $251,000. Rockefeller Capital Management L.P. boosted its stake in ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after buying an additional 5,067 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in ONEOK by 9.7% during 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 buying an additional 136,071 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 1.2 %

Shares of NYSE:OKE opened at $99.45 on Friday. 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 $76.23 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $98.94 and its 200 day moving average price is $99.86. The stock has a market cap of $62.09 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.14%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analysts Set New Price Targets

Several brokerages have weighed in on OKE. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

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.