ClearBridge Investments Ltd Invests $177.05 Million in ONEOK, Inc. (NYSE:OKE)

ClearBridge Investments Ltd acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,763,401 shares of the utilities provider's stock, valued at approximately $177,045,000. ONEOK comprises about 4.6% of ClearBridge Investments Ltd's investment portfolio, making the stock its 10th largest holding. ClearBridge Investments Ltd owned 0.30% of ONEOK as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FNY Investment Advisers LLC lifted its position in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after purchasing an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of ONEOK during the 4th quarter worth about $251,000. Rockefeller Capital Management L.P. grew its holdings in shares of ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider's stock worth $25,070,000 after buying an additional 5,067 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after buying an additional 136,071 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several analysts have commented on OKE shares. Barclays lowered their target price 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. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price on the stock. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.00.

ONEOK Stock Down 6.5 %

Shares of NYSE OKE traded down $6.50 on Thursday, hitting $93.87. The company had a trading volume of 2,573,266 shares, compared to its average volume of 3,031,697. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The firm has a market capitalization of $58.61 billion, a P/E ratio of 19.64, a PEG ratio of 3.77 and a beta of 1.70. The business has a 50 day moving average of $97.80 and a two-hundred day moving average of $100.36.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.39%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's 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.