Tredje AP fonden Has $4.60 Million Position in ONEOK, Inc. (NYSE:OKE)

Tredje AP fonden reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 50.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,796 shares of the utilities provider's stock after selling 45,795 shares during the quarter. Tredje AP fonden's holdings in ONEOK were worth $4,598,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at $182,694,000. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK during the third quarter worth approximately $47,957,000. National Pension Service boosted its holdings in shares of ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider's stock worth $126,779,000 after acquiring an additional 498,908 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in shares of ONEOK in the third quarter valued at approximately $45,194,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

NYSE OKE traded down $0.50 on Tuesday, hitting $97.95. 2,728,695 shares of the company's stock were exchanged, compared to its average volume of 2,826,963. The stock has a 50-day moving average of $99.15 and a 200-day moving average of $99.70. The stock has a market cap of $61.15 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

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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 for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is currently 79.69%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price for the company. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.31.

ONEOK Company 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.