Belpointe Asset Management LLC Has $1.22 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Belpointe Asset Management LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,212 shares of the utilities provider’s stock after selling 146 shares during the period. Belpointe Asset Management LLC’s holdings in ONEOK were worth $1,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after buying an additional 934,007 shares during the period. Geode Capital Management LLC grew its holdings in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares during the last quarter. Norges Bank acquired a new position in ONEOK in the 4th quarter valued at approximately $539,554,000. Finally, Wellington Management Group LLP raised its stake in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after acquiring an additional 3,418,207 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OKE. Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

OKE stock opened at $83.21 on Tuesday. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The stock has a market capitalization of $51.97 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company’s 50-day moving average is $94.34 and its 200-day moving average is $99.61. 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 (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts expect 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. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.95%. ONEOK’s dividend payout ratio is presently 79.69%.

About ONEOK

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.