BI Asset Management Fondsmaeglerselskab A S Increases Holdings in ONEOK, Inc. (NYSE:OKE)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,033 shares of the utilities provider’s stock after purchasing an additional 1,328 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in ONEOK were worth $3,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Curi RMB Capital LLC raised its position in ONEOK by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 35,587 shares of the utilities provider’s stock worth $3,573,000 after acquiring an additional 466 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ONEOK by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,981,786 shares of the utilities provider’s stock worth $399,783,000 after purchasing an additional 299,115 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of ONEOK by 40.8% in the 4th quarter. Forum Financial Management LP now owns 7,297 shares of the utilities provider’s stock worth $733,000 after purchasing an additional 2,116 shares during the period. Canada Pension Plan Investment Board lifted its stake in ONEOK by 12.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 104,471 shares of the utilities provider’s stock valued at $10,489,000 after purchasing an additional 11,246 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in ONEOK during the fourth quarter valued at $5,382,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $86.19 on Monday. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. 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 company has a market cap of $53.84 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The stock has a 50-day moving average price of $93.39 and a 200-day moving average price of $99.40.

ONEOK (NYSE:OKE) last issued its quarterly 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.78%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Wolfe Research raised shares of 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. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $106.42.

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.