4,826 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Generali Investments Management Co LLC

Generali Investments Management Co LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,826 shares of the utilities provider’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings 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 worth $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the period. Amundi lifted its position in ONEOK by 5.3% in the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock valued at $422,261,000 after purchasing an additional 207,324 shares during the period. Janus Henderson Group PLC lifted its position in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the period. Finally, Chickasaw Capital Management LLC lifted its position in ONEOK by 15.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on OKE shares. Wells Fargo & Company reduced their price objective 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. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Scotiabank reduced their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Trading Down 0.5 %

Shares of OKE opened at $97.95 on Wednesday. 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 50 day simple moving average of $99.08 and a 200-day simple moving average of $99.74. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The stock has a market cap of $61.15 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

About ONEOK

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.