ONEOK, Inc. (NYSE:OKE) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in ONEOK, Inc. (NYSE:OKE) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544,208 shares of the utilities provider’s stock after acquiring an additional 136,071 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of ONEOK worth $155,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter worth approximately $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $44,000. Fortitude Family Office LLC raised its holdings in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

ONEOK stock opened at $95.75 on Friday. The business has a 50 day simple moving average of $103.28 and a 200-day simple moving average of $97.41. ONEOK, Inc. has a 12 month low of $68.21 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. ONEOK’s payout ratio is presently 82.85%.

Analyst Ratings Changes

A number of analysts have weighed in on OKE shares. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays initiated coverage on ONEOK in a report on Thursday. They issued an “equal weight” rating and a $105.00 price target for the company. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.42.

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.