AIA Group Ltd Sells 5,066 Shares of ONEOK, Inc. (NYSE:OKE)

AIA Group Ltd decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 42.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,007 shares of the utilities provider’s stock after selling 5,066 shares during the quarter. AIA Group Ltd’s holdings in ONEOK were worth $704,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OKE. Norges Bank purchased a new stake in shares of ONEOK in the fourth quarter valued at approximately $539,554,000. Wellington Management Group LLP raised its position in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ONEOK during the 4th quarter worth $182,694,000. ClearBridge Investments Ltd purchased a new position in shares of ONEOK during the fourth quarter valued at $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of ONEOK by 445.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock valued at $153,319,000 after acquiring an additional 1,246,963 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.8 %

OKE stock opened at $99.28 on Tuesday. The stock has a market capitalization of $61.98 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average of $98.12 and a 200 day moving average of $100.30.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for 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%. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.15%. ONEOK’s payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OKE. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Morgan Stanley upped their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Seven research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

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.