Duff & Phelps Investment Management Co. Buys 32,378 Shares of ONEOK, Inc. (NYSE:OKE)

Duff & Phelps Investment Management Co. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,050,105 shares of the utilities provider’s stock after purchasing an additional 32,378 shares during the quarter. ONEOK makes up 1.3% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 28th largest position. Duff & Phelps Investment Management Co. owned about 0.18% of ONEOK worth $105,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at about $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC purchased a new position in ONEOK in the 4th quarter valued at approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in ONEOK during the fourth quarter worth approximately $51,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

ONEOK stock opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a PE ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $98.53 and a two-hundred day moving average price of $100.07. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month 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 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors 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. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

OKE has been the subject of a number of recent research reports. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays cut their target price 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. Wolfe Research upgraded 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. Scotiabank lowered their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup initiated coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Seven investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.