Meeder Advisory Services Inc. Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Meeder Advisory Services Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,264 shares of the utilities provider’s stock after purchasing an additional 934 shares during the period. Meeder Advisory Services Inc.’s holdings in ONEOK were worth $1,231,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. FMR LLC raised its position in shares of ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after acquiring an additional 122,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in ONEOK by 4.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 200 shares in the last quarter. HighTower Advisors LLC lifted its position in ONEOK by 3.8% during the third quarter. HighTower Advisors LLC now owns 406,984 shares of the utilities provider’s stock valued at $37,080,000 after buying an additional 14,910 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of ONEOK by 0.3% during 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. Finally, Investment Management Corp of Ontario grew its position in shares of ONEOK by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 19,359 shares of the utilities provider’s stock worth $1,764,000 after buying an additional 6,400 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of OKE opened at $100.51 on Thursday. 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 stock has a market cap of $62.75 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50-day simple moving average of $97.80 and a two-hundred day simple moving average of $100.36.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

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.