ONEOK, Inc. (NYSE:OKE) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,297 shares of the utilities provider’s stock after purchasing an additional 467 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in ONEOK were worth $431,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKE. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Price Performance

Shares of OKE stock opened at $106.28 on Thursday. The firm has a fifty day simple moving average of $106.21 and a 200-day simple moving average of $96.21. The company has a market capitalization of $62.09 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.88%. ONEOK’s payout ratio is currently 82.85%.

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.