ONEOK, Inc. (NYSE:OKE) Stock Holdings Trimmed by Korea Investment CORP

Korea Investment CORP lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 341,866 shares of the utilities provider’s stock after selling 28,876 shares during the period. Korea Investment CORP owned about 0.06% of ONEOK worth $34,323,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter worth $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the 4th quarter worth about $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK in the 4th quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK during the 4th quarter valued at about $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company lowered their price target 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. Finally, Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Down 0.2 %

Shares of OKE stock opened at $98.47 on Friday. 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 stock has a market cap of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business’s fifty day moving average is $98.32 and its 200-day moving average is $100.11. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 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 firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities 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. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change 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 yield of 4.18%. ONEOK’s payout ratio is 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.