Resona Asset Management Co. Ltd. Purchases Shares of 174,987 ONEOK, Inc. (NYSE:OKE)

Resona Asset Management Co. Ltd. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 174,987 shares of the utilities provider’s stock, valued at approximately $17,580,000.

Several other institutional investors also recently modified their holdings of the stock. Kieckhefer Group LLC bought a new position in shares of ONEOK in the 4th quarter worth $30,000. Canton Hathaway LLC bought a new position in ONEOK in the fourth quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the fourth quarter worth about $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK in the 4th quarter worth about $51,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. 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 report on Thursday, March 6th. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Finally, Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Price Performance

Shares of OKE stock opened at $80.73 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 firm has a market cap of $50.40 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. The business’s 50 day moving average price is $97.08 and its 200-day moving average price is $100.26. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.10%. ONEOK’s dividend 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.