Nordea Investment Management AB Acquires 463,614 Shares of ONEOK, Inc. (NYSE:OKE)

Nordea Investment Management AB increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 1,219.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 501,636 shares of the utilities provider's stock after purchasing an additional 463,614 shares during the period. Nordea Investment Management AB owned 0.09% of ONEOK worth $50,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Everence Capital Management Inc. grew its position in ONEOK by 4.2% in the 4th quarter. Everence Capital Management Inc. now owns 22,090 shares of the utilities provider's stock worth $2,218,000 after purchasing an additional 890 shares during the last quarter. GAMMA Investing LLC grew its holdings in ONEOK by 26.5% in the 4th quarter. GAMMA Investing LLC now owns 12,265 shares of the utilities provider's stock worth $1,231,000 after buying an additional 2,573 shares in the last quarter. Versant Capital Management Inc increased its position in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 260 shares during the period. BancFirst Trust & Investment Management raised its stake in ONEOK by 2.5% during the 4th quarter. BancFirst Trust & Investment Management now owns 25,631 shares of the utilities provider's stock valued at $2,583,000 after acquiring an additional 614 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in ONEOK by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider's stock worth $64,731,000 after acquiring an additional 24,193 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 1.1 %

NYSE:OKE traded up $1.07 during trading hours on Wednesday, hitting $102.68. 2,736,226 shares of the stock traded hands, compared to its average volume of 2,565,804. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 5.24 and a beta of 1.70. The firm has a 50 day moving average price of $105.35 and a 200 day moving average price of $94.55. 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, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.86%. ONEOK's payout ratio is 82.85%.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 15th. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Finally, US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.00.

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.