Titleist Asset Management LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Titleist Asset Management LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,145 shares of the utilities provider’s stock, valued at approximately $215,000.

Several other institutional investors have also modified their holdings of OKE. Vanguard Group Inc. raised its stake in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after acquiring an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 5.3% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares during the period. Norges Bank bought a new position in ONEOK in the 4th quarter valued at about $539,554,000. Finally, Wellington Management Group LLP increased its stake 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 buying an additional 3,418,207 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

ONEOK Stock Down 0.2 %

OKE stock opened at $80.72 on Tuesday. 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 firm has a market capitalization of $50.40 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company’s 50 day simple moving average is $96.69 and its 200-day simple moving average is $100.21.

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 for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.