Navellier & Associates Inc. Acquires 1,909 Shares of ONEOK, Inc. (NYSE:OKE)

Navellier & Associates Inc. grew its position in ONEOK, Inc. (NYSE:OKE) by 27.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,935 shares of the utilities provider’s stock after buying an additional 1,909 shares during the period. Navellier & Associates Inc.’s holdings in ONEOK were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares in the last quarter. abrdn plc raised its position in shares of ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its position in shares of ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

ONEOK stock opened at $98.07 on Friday. ONEOK, Inc. has a 1 year low of $72.44 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. The company’s fifty day moving average price is $101.19 and its 200 day moving average price is $98.76. The stock has a market capitalization of $57.29 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 86.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Barclays assumed coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. Seven 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.