AIA Group Ltd Cuts Position in ONEOK, Inc. (NYSE:OKE)

AIA Group Ltd decreased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 42.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,007 shares of the utilities provider's stock after selling 5,066 shares during the quarter. AIA Group Ltd's holdings in ONEOK were worth $704,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OKE. Wellington Management Group LLP boosted its holdings in shares of ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after buying an additional 3,418,207 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of ONEOK by 19.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 71,355 shares of the utilities provider's stock valued at $7,164,000 after purchasing an additional 11,506 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of ONEOK by 1.7% in the 4th quarter. Clearbridge Investments LLC now owns 1,976,864 shares of the utilities provider's stock valued at $198,477,000 after acquiring an additional 32,484 shares during the period. ClearBridge Investments Ltd purchased a new stake in ONEOK during the 4th quarter valued at about $177,045,000. Finally, Summit Securities Group LLC acquired a new position in shares of ONEOK in the fourth quarter valued at about $6,144,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Finally, Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.00.

Remove Ads

ONEOK Trading Up 1.0 %

OKE stock traded up $1.01 during trading on Wednesday, reaching $100.51. 2,148,611 shares of the stock were exchanged, compared to its average volume of 3,033,153. 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 firm has a market capitalization of $62.75 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 3.77 and a beta of 1.70. The business has a 50 day moving average price of $97.80 and a 200-day moving average price of $100.36. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate 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. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is presently 79.69%.

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.