Commerzbank Aktiengesellschaft FI Grows Stake in ONEOK, Inc. (NYSE:OKE)

Commerzbank Aktiengesellschaft FI boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 18.9% during the fourth quarter, Holdings Channel reports. The firm owned 18,344 shares of the utilities provider’s stock after buying an additional 2,918 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ONEOK were worth $1,849,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter worth about $30,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Versant Capital Management Inc grew its position in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $96.57 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $75.69 and a one year high of $118.07. The company has a 50 day moving average price of $100.83 and a 200 day moving average price of $99.35.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current 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 issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Citigroup began coverage on ONEOK in a report on Friday. They set a “buy” rating and a $110.00 target price on the stock. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Seven investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

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.