CIBC Private Wealth Group LLC Has $222.56 Million Position in ONEOK, Inc. (NYSE:OKE)

CIBC Private Wealth Group LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 3.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,163,969 shares of the utilities provider’s stock after selling 88,422 shares during the period. CIBC Private Wealth Group LLC owned about 0.37% of ONEOK worth $222,564,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in ONEOK during the fourth quarter worth about $539,554,000. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the 4th quarter worth approximately $182,694,000. Mitsubishi UFJ Trust & Banking Corp grew its position in ONEOK by 445.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after acquiring an additional 1,246,963 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Finally, GQG Partners LLC raised its holdings in shares of ONEOK by 217.2% in the fourth quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after buying an additional 845,715 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Truist Financial raised 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. Morgan Stanley upped their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research 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 stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Down 0.2 %

NYSE:OKE opened at $98.47 on Friday. The stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $98.32 and a two-hundred day moving average price of $100.17. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. ONEOK’s dividend payout ratio is presently 79.69%.

ONEOK Profile

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.