Allstate Corp Takes $1.73 Million Position in ONEOK, Inc. (NYSE:OKE)

Allstate Corp purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,271 shares of the utilities provider's stock, valued at approximately $1,734,000.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on OKE. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.00.

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ONEOK Stock Down 5.9 %

ONEOK stock traded down $5.89 during midday trading on Thursday, reaching $94.48. The stock had a trading volume of 1,822,718 shares, compared to its average volume of 3,028,889. The stock has a market capitalization of $58.99 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm's fifty day simple moving average is $97.80 and its 200-day simple moving average is $100.36. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. 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 posted 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.36%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's dividend payout ratio is currently 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.