Canada Pension Plan Investment Board Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Canada Pension Plan Investment Board boosted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 12.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,471 shares of the utilities provider's stock after buying an additional 11,246 shares during the quarter. Canada Pension Plan Investment Board's holdings in ONEOK were worth $10,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in ONEOK in the 4th quarter valued at about $539,554,000. Wellington Management Group LLP raised its position in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ONEOK during the 4th quarter valued at approximately $182,694,000. ClearBridge Investments Ltd bought a new position in ONEOK in the 4th quarter worth approximately $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock valued at $153,319,000 after buying an additional 1,246,963 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

OKE stock traded up $0.10 during mid-day trading on Friday, hitting $86.38. 1,831,798 shares of the stock were exchanged, compared to its average volume of 3,172,312. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $53.95 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 3.77 and a beta of 1.20. The business has a fifty day moving average price of $92.28 and a 200 day moving average price of $99.04. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $106.42.

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.