Crossmark Global Holdings Inc. Grows Position in ONEOK, Inc. (NYSE:OKE)

Crossmark Global Holdings Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,176 shares of the utilities provider’s stock after purchasing an additional 370 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ONEOK were worth $2,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its stake in shares of ONEOK by 37.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 53,591 shares of the utilities provider’s stock valued at $4,370,000 after acquiring an additional 14,505 shares during the period. EverSource Wealth Advisors LLC raised its position in ONEOK by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,687 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 1,133 shares during the period. Public Sector Pension Investment Board lifted its stake in ONEOK by 5.0% during the second quarter. Public Sector Pension Investment Board now owns 101,515 shares of the utilities provider’s stock worth $8,279,000 after purchasing an additional 4,880 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of ONEOK during the second quarter worth $16,046,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of ONEOK by 60.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,685 shares of the utilities provider’s stock valued at $9,108,000 after buying an additional 42,133 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Down 3.2 %

Shares of NYSE OKE opened at $106.28 on Thursday. The business has a 50-day moving average of $106.21 and a two-hundred day moving average of $96.21. The company has a market capitalization of $62.09 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. 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 Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $0.99 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid 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 3.88%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

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.