Mitsubishi UFJ Trust & Banking Corp Has $180.60 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Mitsubishi UFJ Trust & Banking Corp boosted its position in ONEOK, Inc. (NYSE:OKE) by 19.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,820,199 shares of the utilities provider’s stock after purchasing an additional 293,300 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ONEOK were worth $180,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SPC Financial Inc. raised its position in ONEOK by 7.3% in the 1st quarter. SPC Financial Inc. now owns 33,539 shares of the utilities provider’s stock valued at $3,328,000 after buying an additional 2,294 shares during the last quarter. TIAA Trust National Association raised its position in ONEOK by 14.4% in the 1st quarter. TIAA Trust National Association now owns 6,310 shares of the utilities provider’s stock valued at $626,000 after buying an additional 792 shares during the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in ONEOK in the 1st quarter valued at approximately $412,000. MONECO Advisors LLC raised its position in ONEOK by 25.3% in the 1st quarter. MONECO Advisors LLC now owns 7,415 shares of the utilities provider’s stock valued at $736,000 after buying an additional 1,496 shares during the last quarter. Finally, Hartford Investment Management Co. raised its position in ONEOK by 4.6% in the 1st quarter. Hartford Investment Management Co. now owns 37,949 shares of the utilities provider’s stock valued at $3,765,000 after buying an additional 1,683 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of analyst reports. Scotiabank set a $92.00 price target on ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. TD Cowen initiated coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of ONEOK in a research note on Friday. Royal Bank Of Canada decreased their price target on ONEOK from $100.00 to $94.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $104.57.

ONEOK Stock Performance

OKE opened at $79.02 on Friday. The business has a fifty day simple moving average of $81.42 and a 200 day simple moving average of $88.77. The company has a market capitalization of $49.75 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. ONEOK, Inc. has a 1 year low of $75.47 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter last year, the firm earned $1.09 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.2%. ONEOK’s payout ratio is currently 80.47%.

ONEOK 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.