Nisa Investment Advisors LLC Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Nisa Investment Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,717 shares of the utilities provider’s stock after buying an additional 1,833 shares during the period. Nisa Investment Advisors LLC’s holdings in ONEOK were worth $17,843,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. National Pension Service lifted its holdings in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. lifted its stake in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares in the last quarter. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter valued at $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK during the second quarter worth $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial lifted 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. Scotiabank started coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Down 3.2 %

Shares of NYSE:OKE opened at $106.28 on Thursday. The stock has a 50-day simple moving average of $106.21 and a 200-day simple moving average of $96.21. The stock has a market capitalization of $62.09 billion, a P/E ratio of 22.23, a PEG ratio of 4.66 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the company earned $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

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