US Bancorp DE Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• US Bancorp DE increased its stake in ONEOK, Inc. by 5.4%, owning 81,575 shares valued at approximately $8.1 million as of the latest filing.
• Several institutional investors, such as Brighton Jones LLC and KCM Investment Advisors LLC, also significantly boosted their holdings in ONEOK during the fourth quarter.
• ONEOK announced a quarterly dividend of $1.03 per share to be paid on August 14th, representing an annualized yield of 5.2%.

US Bancorp DE raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,575 shares of the utilities provider's stock after buying an additional 4,196 shares during the period. US Bancorp DE's holdings in ONEOK were worth $8,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. Franklin Resources Inc. boosted its holdings in ONEOK by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 225,780 shares of the utilities provider's stock valued at $22,668,000 after purchasing an additional 5,626 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in ONEOK in the fourth quarter valued at $17,580,000. KCM Investment Advisors LLC boosted its holdings in ONEOK by 90.7% in the fourth quarter. KCM Investment Advisors LLC now owns 4,743 shares of the utilities provider's stock valued at $476,000 after purchasing an additional 2,256 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in ONEOK by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 828,075 shares of the utilities provider's stock valued at $83,168,000 after purchasing an additional 310,377 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday. Royal Bank Of Canada decreased their target price on ONEOK from $100.00 to $94.00 and set a "sector perform" rating for the company in a report on Friday. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Finally, Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.57.

ONEOK Stock Down 3.8%

OKE opened at $79.02 on Monday. The business's 50-day simple moving average is $81.42 and its 200-day simple moving average is $88.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. ONEOK, Inc. has a one year low of $75.47 and a one year high of $118.07. The stock has a market capitalization of $49.75 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.2%. ONEOK's payout ratio is 80.47%.

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.

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