Conning Inc. Acquires 762 Shares of ONEOK, Inc. (NYSE:OKE)

Conning Inc. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,558 shares of the utilities provider’s stock after buying an additional 762 shares during the period. Conning Inc.’s holdings in ONEOK were worth $1,160,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the 3rd quarter valued at $47,957,000. Yaupon Capital Management LP bought a new position in shares of ONEOK during the 3rd quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC boosted its stake in shares of ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after buying an additional 489,821 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several research reports. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Barclays started coverage on shares of ONEOK in a research note on Thursday. They issued an “equal weight” rating and a $105.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.42.

ONEOK Trading Down 0.1 %

OKE stock opened at $95.75 on Friday. The firm has a market cap of $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The firm has a fifty day moving average price of $103.28 and a 200 day moving average price of $97.41. 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, Inc. has a fifty-two week low of $68.21 and a fifty-two week high of $118.07.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is 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 4.30%. ONEOK’s payout ratio is 86.19%.

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.