Tredje AP fonden Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

Tredje AP fonden lessened its stake in ONEOK, Inc. (NYSE:OKE) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,796 shares of the utilities provider’s stock after selling 45,795 shares during the period. Tredje AP fonden’s holdings in ONEOK were worth $4,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vestcor Inc grew its stake in ONEOK by 26.1% in the 4th quarter. Vestcor Inc now owns 26,507 shares of the utilities provider’s stock worth $2,661,000 after buying an additional 5,493 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ONEOK in the 4th quarter valued at $15,425,000. Avantax Advisory Services Inc. boosted its stake in shares of ONEOK by 8.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 95,401 shares of the utilities provider’s stock valued at $9,578,000 after purchasing an additional 7,504 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in shares of ONEOK by 5.9% in the 4th quarter. Great Lakes Advisors LLC now owns 70,005 shares of the utilities provider’s stock valued at $7,029,000 after purchasing an additional 3,924 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ONEOK by 30.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,100 shares of the utilities provider’s stock valued at $412,000 after purchasing an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut 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 note on Wednesday, February 26th. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Up 0.5 %

NYSE:OKE opened at $93.40 on Friday. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The firm’s 50-day moving average price is $99.34 and its 200-day moving average price is $99.43. The company has a market capitalization of $58.31 billion, a PE ratio of 19.54, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.18 billion. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.41%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is 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.