Pittenger & Anderson Inc. Takes Position in ONEOK, Inc. (NYSE:OKE)

Pittenger & Anderson Inc. bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,000 shares of the utilities provider’s stock, valued at approximately $100,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its position in shares of ONEOK by 3.2% during the third quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock worth $21,965,000 after purchasing an additional 7,467 shares during the period. Blue Trust Inc. increased its stake in ONEOK by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 5,838 shares of the utilities provider’s stock valued at $532,000 after purchasing an additional 3,391 shares in the last quarter. New Century Financial Group LLC acquired a new position in ONEOK during the third quarter worth $276,000. CNB Bank bought a new position in shares of ONEOK in the third quarter valued at $91,000. Finally, OLD National Bancorp IN increased its position in shares of ONEOK by 5.4% during the third quarter. OLD National Bancorp IN now owns 3,917 shares of the utilities provider’s stock worth $357,000 after acquiring an additional 200 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $97.96 on Tuesday. 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 fifty day simple moving average of $101.79 and a two-hundred day simple moving average of $98.27. ONEOK, Inc. has a 1-year low of $69.01 and a 1-year high of $118.07. The firm has a market cap of $57.23 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Barclays started coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Company 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.