Miller Howard Investments Inc. NY raised its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 26.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,317 shares of the utilities provider’s stock after purchasing an additional 75,105 shares during the period. Miller Howard Investments Inc. NY owned 0.06% of ONEOK worth $32,388,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Capital International Investors acquired a new stake in ONEOK in the 4th quarter worth about $586,500,000. Norges Bank acquired a new position in shares of ONEOK during the fourth quarter valued at approximately $564,867,000. First Eagle Investment Management LLC lifted its position in shares of ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after acquiring an additional 3,596,089 shares in the last quarter. Danske Bank A S boosted its stake in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the last quarter. Finally, Man Group plc boosted its stake in shares of ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.
ONEOK Stock Up 2.0%
Shares of NYSE:OKE opened at $88.02 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average of $88.09 and a two-hundred day moving average of $83.34. The stock has a market cap of $55.46 billion, a P/E ratio of 15.69, a PEG ratio of 6.45 and a beta of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. ONEOK’s payout ratio is 76.29%.
Analyst Ratings Changes
Several research analysts recently commented on the company. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Barclays boosted their price target on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $91.88.
Read Our Latest Analysis on ONEOK
ONEOK Company Profile
ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.
ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.
Read More
- Five stocks we like better than ONEOK
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE – Free Report).
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.
