ONEOK, Inc. (NYSE:OKE) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its stake in ONEOK, Inc. (NYSE:OKE) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,744 shares of the utilities provider’s stock after purchasing an additional 594 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in ONEOK were worth $1,882,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Geode Capital Management LLC lifted its stake in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. International Assets Investment Management LLC increased its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc raised its holdings in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 2.9 %

NYSE OKE opened at $96.95 on Monday. The company’s fifty day moving average price is $104.51 and its two-hundred day moving average price is $97.14. The company has a market capitalization of $56.64 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month 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 Increases Dividend

The company 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OKE. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.92.

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.