Sei Investments Co. Has $18.41 Million Position in ONEOK, Inc. (NYSE:OKE)

Sei Investments Co. lifted its position in ONEOK, Inc. (NYSE:OKE) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,340 shares of the utilities provider’s stock after acquiring an additional 17,910 shares during the period. Sei Investments Co.’s holdings in ONEOK were worth $18,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new position in shares of ONEOK during the fourth quarter worth $30,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter worth about $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK in the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK during the fourth quarter worth about $51,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several research analyst reports. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Scotiabank lowered their price objective 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. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Finally, Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Down 2.5 %

NYSE:OKE opened at $98.76 on Friday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The firm has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 50 day moving average price is $98.53 and its two-hundred day moving average price is $100.07.

ONEOK (NYSE:OKE) last issued its earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.17%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 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.