Unigestion Holding SA Acquires New Shares in ONEOK, Inc. (NYSE:OKE)

Unigestion Holding SA 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 10,079 shares of the utilities provider's stock, valued at approximately $1,012,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth $30,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK during the fourth quarter worth approximately $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Citigroup started 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. Barclays lowered their price objective on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Finally, Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.00.

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ONEOK Stock Up 1.1 %

Shares of ONEOK stock traded up $0.86 during midday trading on Friday, hitting $82.10. The company's stock had a trading volume of 1,514,473 shares, compared to its average volume of 3,151,211. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $51.28 billion, a P/E ratio of 17.04, a PEG 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.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results 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 company had revenue of $7 billion for 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%. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share 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 $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.02%. 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.