Mitsubishi UFJ Trust & Banking Corp Increases Stake in ONEOK, Inc. (NYSE:OKE)

Mitsubishi UFJ Trust & Banking Corp grew its position in ONEOK, Inc. (NYSE:OKE) by 445.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,526,899 shares of the utilities provider’s stock after purchasing an additional 1,246,963 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ONEOK were worth $153,319,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OKE. Astoria Portfolio Advisors LLC. raised its holdings in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the last quarter. McAdam LLC raised its stake in shares of ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC lifted its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA increased its holdings in ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on OKE. Wells Fargo & Company lowered 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 note on Wednesday, February 26th. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Scotiabank cut their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Stock Up 3.0 %

OKE stock opened at $102.34 on Tuesday. The business’s 50-day moving average price is $98.91 and its 200-day moving average price is $99.99. The stock has a market cap of $63.89 billion, a P/E ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly 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 business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 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.