GQG Partners LLC Acquires 845,715 Shares of ONEOK, Inc. (NYSE:OKE)

GQG Partners LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 217.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,235,012 shares of the utilities provider’s stock after acquiring an additional 845,715 shares during the quarter. GQG Partners LLC owned about 0.21% of ONEOK worth $123,995,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in ONEOK in the fourth quarter valued at about $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $48,000. VSM Wealth Advisory LLC bought a new position in ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in ONEOK during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 3.0 %

ONEOK stock opened at $102.34 on Tuesday. The company has a fifty day simple moving average of $98.91 and a 200 day simple moving average of $99.99. 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, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The company has a market cap of $63.89 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Seven 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 presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.