Ilmarinen Mutual Pension Insurance Co Acquires 11,500 Shares of ONEOK, Inc. (NYSE:OKE)

Ilmarinen Mutual Pension Insurance Co grew its holdings in ONEOK, Inc. (NYSE:OKE) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,000 shares of the utilities provider’s stock after acquiring an additional 11,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in ONEOK were worth $8,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in ONEOK during the 4th quarter valued at $539,554,000. Wellington Management Group LLP raised its position in shares of 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 buying an additional 3,418,207 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of ONEOK in the fourth quarter valued at about $182,694,000. ClearBridge Investments Ltd acquired a new stake in ONEOK during the fourth quarter worth about $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock valued at $153,319,000 after acquiring an additional 1,246,963 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 12.9 %

Shares of OKE opened at $80.73 on Friday. The company has a market capitalization of $50.40 billion, a P/E ratio of 16.89, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The business’s 50 day simple moving average is $97.08 and its 200-day simple moving average is $100.26. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend 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 5.10%. ONEOK’s payout ratio is currently 79.69%.

Analyst Ratings Changes

OKE has been the subject of a number of research reports. Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Wells Fargo & Company decreased their price target 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. Scotiabank dropped their price objective 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. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

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.