Aviva PLC Sells 68,397 Shares of ONEOK, Inc. (NYSE:OKE)

Aviva PLC cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 622,493 shares of the utilities provider's stock after selling 68,397 shares during the quarter. Aviva PLC owned about 0.11% of ONEOK worth $62,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of ONEOK in the 4th quarter worth about $539,554,000. Wellington Management Group LLP grew its holdings in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares during the period. Raymond James Financial Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $182,694,000. ClearBridge Investments Ltd purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock worth $153,319,000 after buying an additional 1,246,963 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.69 during trading on Friday, hitting $80.55. The company had a trading volume of 1,120,290 shares, compared to its average volume of 3,149,640. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $50.31 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The stock has a 50 day simple moving average of $94.93 and a 200 day simple moving average of $99.67.

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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, topping analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.11%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent analyst reports. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Scotiabank decreased 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. Wells Fargo & Company dropped 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. Finally, Citigroup began coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target 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.