342,234 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 342,234 shares of the utilities provider’s stock, valued at approximately $34,360,000. Cbre Investment Management Listed Real Assets LLC owned 0.06% of ONEOK at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC acquired a new stake in ONEOK in the fourth quarter valued at $40,000. Access Investment Management LLC acquired a new stake in ONEOK in the third quarter valued at $37,000. J.Safra Asset Management Corp acquired a new stake in ONEOK in the fourth quarter valued at $48,000. Finally, Versant Capital Management Inc grew its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $93.74 on Wednesday. The company has a market capitalization of $58.52 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $100.66 and its 200 day moving average price is $99.40. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Ratings Changes

OKE has been the topic of several research reports. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Finally, Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.15.

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.