ONEOK, Inc. (NYSE:OKE) Stake Lessened by Legal & General Group Plc

Legal & General Group Plc lessened its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 21.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,618,984 shares of the utilities provider's stock after selling 1,276,547 shares during the period. Legal & General Group Plc owned approximately 0.79% of ONEOK worth $463,746,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 96 shares during the period. McAdam LLC boosted its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC grew its stake in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after purchasing an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA raised its position in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 104 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

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ONEOK Price Performance

Shares of ONEOK stock traded up $1.20 on Friday, hitting $82.44. The company had a trading volume of 3,777,706 shares, compared to its average volume of 3,157,343. The company has a market cap of $51.49 billion, a PE ratio of 17.25, a PEG ratio of 3.77 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The business has a 50-day simple moving average of $94.64 and a 200-day simple moving average of $99.66.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 16.84% and a net margin of 14.05%. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.00%. ONEOK's payout ratio is 79.69%.

Analyst Ratings Changes

A number of research firms have commented on OKE. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Morgan Stanley upped 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. Wells Fargo & Company reduced 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. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Seven research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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.