Aster Capital Management DIFC Ltd Makes New $778,000 Investment in ONEOK, Inc. (NYSE:OKE)

Aster Capital Management DIFC Ltd acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The firm acquired 7,746 shares of the utilities provider’s stock, valued at approximately $778,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 5.3% during 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 acquiring an additional 934,007 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after purchasing an additional 357,015 shares in the last quarter. Norges Bank bought a new stake in ONEOK in the fourth quarter worth $539,554,000. Finally, Wellington Management Group LLP raised its stake in ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Scotiabank decreased their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Citigroup started coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Down 12.9 %

NYSE:OKE opened at $80.73 on Friday. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month 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. The stock has a fifty day simple moving average of $97.08 and a 200-day simple moving average of $100.26.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.10%. ONEOK’s 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.