523 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 523 shares of the utilities provider’s stock, valued at approximately $51,000.

Several other institutional investors also recently modified their holdings of OKE. Raymond James Financial Inc. purchased a new stake in ONEOK during the 4th quarter valued at about $182,694,000. Charles Schwab Investment Management Inc. grew its position in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the 3rd quarter valued at about $47,957,000. National Pension Service grew its position in ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after purchasing an additional 498,908 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in ONEOK during the 3rd quarter valued at about $45,194,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE opened at $91.46 on Tuesday. The firm has a 50 day moving average of $99.81 and a 200 day moving average of $99.49. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.50%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OKE. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank cut their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research upgraded 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 note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

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.