ONEOK, Inc. (NYSE:OKE) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in ONEOK, Inc. (NYSE:OKE) by 433.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,206,906 shares of the utilities provider’s stock after acquiring an additional 3,418,207 shares during the period. Wellington Management Group LLP owned about 0.67% of ONEOK worth $422,373,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC acquired a new position in ONEOK during the fourth quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the 4th quarter worth about $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK during the 4th quarter worth about $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $99.28 on Tuesday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The firm has a fifty day simple moving average of $98.12 and a 200-day simple moving average of $100.30. 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 market capitalization of $61.98 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OKE. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven research 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’s stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.