Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Tokio Marine Asset Management Co. Ltd. boosted its position in ONEOK, Inc. (NYSE:OKE) by 10.1% in the 1st quarter, Holdings Channel reports. The fund owned 20,631 shares of the utilities provider’s stock after purchasing an additional 1,887 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ONEOK were worth $2,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Vanguard Group Inc. grew its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Nuveen LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $440,535,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of ONEOK by 43.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider’s stock valued at $585,807,000 after purchasing an additional 1,788,433 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $75.30 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $47.42 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.76 and a beta of 0.99. The firm’s fifty day simple moving average is $80.48 and its 200 day simple moving average is $87.01. ONEOK, Inc. has a twelve month low of $73.02 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.5%. ONEOK’s payout ratio is currently 80.31%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a report on Friday, August 1st. Scotiabank set a $92.00 price target on shares of ONEOK and gave the company a “sector outperform” rating in a report on Tuesday, July 15th. Finally, TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.14.

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.