Bank of New York Mellon Corp Has $462.78 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Bank of New York Mellon Corp trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,609,349 shares of the utilities provider’s stock after selling 84,146 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of ONEOK worth $462,779,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Arkadios Wealth Advisors increased its holdings in ONEOK by 18.8% during the third quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of ONEOK by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 67,866 shares of the utilities provider’s stock valued at $6,184,000 after acquiring an additional 4,380 shares during the period. First Financial Bankshares Inc bought a new stake in ONEOK during the third quarter worth about $200,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in ONEOK by 3.2% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,974 shares of the utilities provider’s stock worth $544,000 after purchasing an additional 186 shares during the period. Finally, abrdn plc lifted its holdings in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 2.5 %

Shares of ONEOK stock opened at $95.66 on Wednesday. ONEOK, Inc. has a 1 year low of $72.44 and a 1 year high of $118.07. The firm has a market cap of $55.88 billion, a PE ratio of 20.01, a P/E/G ratio of 3.77 and a beta of 1.70. The stock has a fifty day moving average price of $100.97 and a 200-day moving average price of $99.04. 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 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced 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 represents a $4.12 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKE. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. 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 report on Monday, February 10th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.