Penobscot Investment Management Company Inc. Has $3.56 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Penobscot Investment Management Company Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,417 shares of the utilities provider’s stock after purchasing an additional 4,032 shares during the period. Penobscot Investment Management Company Inc.’s holdings in ONEOK were worth $3,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the 4th quarter valued at about $30,000. Canton Hathaway LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new position in shares of ONEOK during the 4th quarter worth $50,000. Finally, OFI Invest Asset Management bought a new position in shares of ONEOK during the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Seven 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Up 0.1 %

Shares of OKE opened at $102.42 on Wednesday. The stock’s 50-day moving average price is $98.84 and its 200 day moving average price is $100.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current 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. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 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.