Russell Investments Group Ltd. Raises Stake in ONEOK, Inc. (NYSE:OKE)

Russell Investments Group Ltd. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 60.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 828,075 shares of the utilities provider's stock after purchasing an additional 310,377 shares during the period. Russell Investments Group Ltd. owned about 0.14% of ONEOK worth $83,168,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake in ONEOK by 31.4% in the third quarter. Integrated Wealth Concepts LLC now owns 23,824 shares of the utilities provider's stock valued at $2,171,000 after buying an additional 5,697 shares during the period. Morse Asset Management Inc bought a new position in ONEOK during the third quarter valued at $346,000. Royal London Asset Management Ltd. grew its stake in ONEOK by 3.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 301,797 shares of the utilities provider's stock valued at $27,503,000 after buying an additional 9,281 shares in the last quarter. Quarry LP bought a new stake in shares of ONEOK during the third quarter valued at about $158,000. Finally, Quantinno Capital Management LP grew its position in ONEOK by 27.9% during the third quarter. Quantinno Capital Management LP now owns 54,500 shares of the utilities provider's stock worth $4,967,000 after buying an additional 11,898 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on OKE. Scotiabank cut 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. 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 research note on Wednesday, February 26th. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price target on the stock. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

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ONEOK Trading Down 0.2 %

Shares of ONEOK stock traded down $0.15 during trading hours on Friday, hitting $81.09. The company's stock had a trading volume of 1,319,492 shares, compared to its average volume of 3,150,346. The firm has a fifty day moving average of $94.93 and a 200-day moving average of $99.67. The stock has a market cap of $50.65 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a twelve month low of $75.48 and a twelve 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.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is 79.69%.

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.