174,987 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 174,987 shares of the utilities provider's stock, valued at approximately $17,580,000.

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

ONEOK Stock Performance

Shares of OKE traded down $0.79 on Friday, reaching $80.45. 1,120,290 shares of the stock traded hands, compared to its average volume of 3,149,603. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 16.84, 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 stock's 50-day moving average price is $94.93 and its 200-day moving average price is $99.67. 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 (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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.18 billion. Equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

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ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.12%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is currently 79.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OKE shares. Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Scotiabank reduced their price target on shares of 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 raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley increased their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average 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.