DnB Asset Management AS Purchases 4,138 Shares of ONEOK, Inc. (NYSE:OKE)

DnB Asset Management AS increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,881 shares of the utilities provider's stock after purchasing an additional 4,138 shares during the period. DnB Asset Management AS's holdings in ONEOK were worth $11,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at approximately $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the fourth quarter valued at $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the fourth quarter worth $48,000. VSM Wealth Advisory LLC purchased a new stake in ONEOK during the fourth quarter valued at $50,000. Finally, OFI Invest Asset Management bought a new position in ONEOK during the fourth quarter valued at $51,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on OKE shares. Scotiabank decreased 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 report on Thursday, March 6th. Morgan Stanley raised 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. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $105.00.

Remove Ads

ONEOK Stock Down 5.9 %

Shares of ONEOK stock traded down $5.89 during trading on Thursday, hitting $94.48. 1,822,718 shares of the stock traded hands, compared to its average volume of 3,028,889. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock's fifty day simple moving average is $97.80 and its 200 day simple moving average is $100.36. The firm has a market cap 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 company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $6.18 billion. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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