Transce3nd LLC Makes New $516,000 Investment in ONEOK, Inc. (NYSE:OKE)

Transce3nd LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,138 shares of the utilities provider's stock, valued at approximately $516,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MML Investors Services LLC increased its stake in ONEOK by 7.5% during the 4th quarter. MML Investors Services LLC now owns 27,353 shares of the utilities provider's stock valued at $2,746,000 after buying an additional 1,910 shares during the period. Natixis boosted its holdings in shares of ONEOK by 340.5% in the fourth quarter. Natixis now owns 39,265 shares of the utilities provider's stock valued at $3,942,000 after acquiring an additional 30,351 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of ONEOK by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 155,042 shares of the utilities provider's stock valued at $15,566,000 after acquiring an additional 2,744 shares during the period. Ossiam increased its stake in shares of ONEOK by 65.2% during the fourth quarter. Ossiam now owns 910 shares of the utilities provider's stock valued at $91,000 after acquiring an additional 359 shares during the period. Finally, Norinchukin Bank The lifted its position in ONEOK by 12.1% in the fourth quarter. Norinchukin Bank The now owns 27,809 shares of the utilities provider's stock worth $2,792,000 after purchasing an additional 3,001 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

OKE stock opened at $86.19 on Friday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week 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 stock has a market cap of $53.84 billion, a P/E ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20. The firm has a 50 day simple moving average of $93.39 and a 200 day simple moving average of $99.37.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.78%. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Morgan Stanley increased their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Finally, US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.42.

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.

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