Charles Schwab Investment Management Inc. Buys 661,854 Shares of ONEOK, Inc. (NYSE:OKE)

Charles Schwab Investment Management Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,480,774 shares of the utilities provider’s stock after acquiring an additional 661,854 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ONEOK were worth $1,593,023,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its position in shares of ONEOK by 50.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,271 shares of the utilities provider’s stock valued at $2,828,000 after buying an additional 11,903 shares during the last quarter. Pitcairn Co. grew its position in shares of ONEOK by 21.6% in the first quarter. Pitcairn Co. now owns 6,752 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 1,199 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of ONEOK by 44.8% during the 1st quarter. CreativeOne Wealth LLC now owns 22,242 shares of the utilities provider’s stock valued at $1,783,000 after purchasing an additional 6,881 shares during the period. Freestone Capital Holdings LLC bought a new position in ONEOK in the 1st quarter worth about $927,000. Finally, EP Wealth Advisors LLC grew its holdings in ONEOK by 23.7% during the 1st quarter. EP Wealth Advisors LLC now owns 17,325 shares of the utilities provider’s stock valued at $1,389,000 after buying an additional 3,324 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Scotiabank increased their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Price Performance

Shares of NYSE:OKE opened at $114.17 on Thursday. The firm has a market cap of $66.70 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 5.64 and a beta of 1.66. The firm has a fifty day moving average price of $97.84 and a 200 day moving average price of $88.39. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $114.33. 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 posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.47%. ONEOK’s dividend payout ratio is presently 82.85%.

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.