Cibc World Markets Corp Buys 12,908 Shares of ONEOK, Inc. (NYSE:OKE)

Cibc World Markets Corp lifted its stake in ONEOK, Inc. (NYSE:OKE) by 16.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,138 shares of the utilities provider’s stock after buying an additional 12,908 shares during the quarter. Cibc World Markets Corp’s holdings in ONEOK were worth $9,251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 5.3% during the 4th 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Amundi boosted its stake in ONEOK by 5.3% during the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock valued at $422,261,000 after buying an additional 207,324 shares during the last quarter. Janus Henderson Group PLC grew its holdings in 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, Chickasaw Capital Management LLC increased its stake in ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Citigroup started 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. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Performance

Shares of ONEOK stock opened at $97.95 on Wednesday. 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’s fifty day moving average is $99.08 and its two-hundred day moving average is $99.74. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a market capitalization of $61.15 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted 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 analysts’ expectations of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 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.