ONEOK, Inc. (NYSE:OKE) Shares Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 15.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 84,000 shares of the utilities provider's stock after purchasing an additional 11,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in ONEOK were worth $8,434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OKE. Russell Investments Group Ltd. increased its holdings in shares of ONEOK by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 828,075 shares of the utilities provider's stock valued at $83,168,000 after acquiring an additional 310,377 shares in the last quarter. Annandale Capital LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $205,000. Dynamic Technology Lab Private Ltd lifted its position in ONEOK by 41.8% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock worth $1,546,000 after acquiring an additional 4,538 shares during the period. KCM Investment Advisors LLC increased its holdings in shares of ONEOK by 90.7% in the fourth quarter. KCM Investment Advisors LLC now owns 4,743 shares of the utilities provider's stock valued at $476,000 after purchasing an additional 2,256 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of ONEOK in the fourth quarter worth about $17,580,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of NYSE:OKE traded down $0.15 during trading on Friday, reaching $81.09. The stock had a trading volume of 1,319,492 shares, compared to its average volume of 3,150,346. The stock has a market cap of $50.65 billion, a PE ratio of 16.96, a PEG ratio of 3.77 and a beta of 1.20. 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 $75.48 and a 1-year high of $118.07. The business has a fifty day moving average price of $94.93 and a 200-day moving average price of $99.67.

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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. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OKE shares. Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Morgan Stanley lifted 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. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 target price on the stock. Finally, Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.00.

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.