Schroder Investment Management Group Increases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Schroder Investment Management Group increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,842 shares of the utilities provider's stock after purchasing an additional 3,947 shares during the quarter. Schroder Investment Management Group's holdings in ONEOK were worth $11,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $30,000. Canton Hathaway LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the fourth quarter worth $48,000. VSM Wealth Advisory LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management acquired a new stake in shares of ONEOK in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Scotiabank lowered their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price objective 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 upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

Remove Ads

ONEOK Stock Performance

ONEOK stock traded down $2.34 during mid-day trading on Tuesday, hitting $78.57. The company had a trading volume of 6,620,730 shares, compared to its average volume of 3,130,664. The company has a market capitalization of $49.05 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company's fifty day moving average is $95.81 and its 200-day moving average is $99.95. 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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm 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 boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.24%. ONEOK's dividend payout ratio (DPR) is 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.