Investors Buy Shares of ONEOK (OKE) on Weakness

Traders bought shares of ONEOK, Inc. (NYSE:OKE) on weakness during trading on Friday. $161.67 million flowed into the stock on the tick-up and $47.02 million flowed out of the stock on the tick-down, for a money net flow of $114.65 million into the stock. Of all equities tracked, ONEOK had the 26th highest net in-flow for the day. ONEOK traded down ($0.27) for the day and closed at $66.85

Several brokerages recently commented on OKE. SunTrust Banks began coverage on ONEOK in a research note on Friday, January 18th. They issued a “buy” rating and a $72.00 price target for the company. Barclays set a $66.00 target price on ONEOK and gave the stock a “hold” rating in a research report on Wednesday, January 16th. Raymond James began coverage on ONEOK in a research report on Thursday, January 10th. They set a “strong-buy” rating and a $72.00 target price for the company. JPMorgan Chase & Co. raised ONEOK from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $75.00 to $74.00 in a research report on Tuesday, January 8th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of ONEOK in a research report on Wednesday, January 16th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. ONEOK currently has a consensus rating of “Buy” and a consensus target price of $71.11.

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.66 and a quick ratio of 0.46. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.97 and a beta of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 25th. The utilities provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). ONEOK had a net margin of 9.14% and a return on equity of 17.10%. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 2.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, January 28th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 5.15%. This is a boost from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, January 25th. ONEOK’s dividend payout ratio is currently 123.74%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of ONEOK in the fourth quarter valued at $209,832,000. Zimmer Partners LP raised its stake in shares of ONEOK by 279.5% in the fourth quarter. Zimmer Partners LP now owns 3,712,700 shares of the utilities provider’s stock valued at $200,300,000 after purchasing an additional 2,734,500 shares in the last quarter. BlackRock Inc. raised its stake in shares of ONEOK by 6.5% in the fourth quarter. BlackRock Inc. now owns 41,353,551 shares of the utilities provider’s stock valued at $2,231,023,000 after purchasing an additional 2,533,165 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of ONEOK by 5,259.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,415,665 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 2,370,592 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of ONEOK in the third quarter valued at $136,765,000. 74.84% of the stock is owned by institutional investors.

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ONEOK Company Profile (NYSE:OKE)

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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