DekaBank Deutsche Girozentrale Raises Holdings in ONEOK, Inc. (NYSE:OKE)

DekaBank Deutsche Girozentrale boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,216 shares of the utilities provider's stock after purchasing an additional 12,551 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in ONEOK were worth $8,573,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Regal Investment Advisors LLC increased its position in shares of ONEOK by 3.6% during the 3rd quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider's stock worth $294,000 after purchasing an additional 159 shares in the last quarter. Hoxton Planning & Management LLC raised its holdings in shares of ONEOK by 5.0% in the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider's stock valued at $228,000 after purchasing an additional 170 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of ONEOK by 0.8% in the second quarter. MML Investors Services LLC now owns 21,637 shares of the utilities provider's stock valued at $1,335,000 after purchasing an additional 177 shares during the last quarter. Monarch Capital Management Inc. grew its stake in shares of ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider's stock valued at $1,094,000 after buying an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its stake in shares of ONEOK by 0.3% in the third quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider's stock valued at $4,477,000 after buying an additional 190 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE:OKE traded down $0.82 during trading on Wednesday, hitting $79.05. 3,399,106 shares of the company's stock were exchanged, compared to its average volume of 3,033,801. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK, Inc. has a 52-week low of $55.91 and a 52-week high of $80.81. The business's 50-day simple moving average is $75.37 and its 200 day simple moving average is $70.40. The company has a market cap of $46.14 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.48 and a beta of 1.65.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same quarter in the prior year, the business earned $1.08 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 4.62 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 5.01%. This is a positive change from ONEOK's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Monday, January 29th. ONEOK's dividend payout ratio (DPR) is presently 71.35%.

ONEOK announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Truist Financial boosted their target price on ONEOK from $71.00 to $81.00 and gave the stock a "hold" rating in a research note on Thursday, March 21st. Morgan Stanley boosted their price target on ONEOK from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 26th. Wolfe Research upgraded ONEOK from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. Finally, Raymond James increased their price target on ONEOK from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $81.73.

Insider Activity

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now owns 2,700 shares of the company's stock, valued at $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

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.