Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in ONEOK, Inc. (NYSE:OKE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in ONEOK, Inc. (NYSE:OKE) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 923,670 shares of the utilities provider’s stock after buying an additional 86,056 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of ONEOK worth $95,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC increased its holdings in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in ONEOK in the 4th quarter valued at approximately $251,000. Rockefeller Capital Management L.P. grew its holdings in ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock valued at $25,070,000 after buying an additional 5,067 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after buying an additional 136,071 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OKE shares. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. 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 report on Monday, February 10th. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Down 2.5 %

OKE opened at $98.76 on Friday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a 50 day moving average price of $98.53 and a 200 day moving average price of $100.07. 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 company has a market cap of $61.66 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. ONEOK’s dividend payout ratio is presently 79.69%.

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.