J. Safra Sarasin Holding AG Invests $2.64 Million in ONEOK, Inc. (NYSE:OKE)

J. Safra Sarasin Holding AG bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 26,290 shares of the utilities provider's stock, valued at approximately $2,640,000.

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

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. 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 report on Friday, March 7th. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.42.

ONEOK Trading Down 5.0 %

Shares of NYSE OKE opened at $81.95 on Tuesday. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $93.07 and a two-hundred day moving average of $99.31. The company has a market cap of $51.19 billion, a PE ratio of 17.14, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last released its 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared 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 is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.03%. ONEOK's payout ratio is currently 79.69%.

About ONEOK

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.

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