NEOS Investment Management LLC Buys 8,609 Shares of ONEOK, Inc. (NYSE:OKE)

NEOS Investment Management LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,995 shares of the utilities provider’s stock after acquiring an additional 8,609 shares during the quarter. NEOS Investment Management LLC’s holdings in ONEOK were worth $3,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd increased its position in shares of ONEOK by 20.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 43,486 shares of the utilities provider’s stock valued at $4,366,000 after purchasing an additional 7,379 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in ONEOK by 12.7% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 58,053 shares of the utilities provider’s stock valued at $5,829,000 after buying an additional 6,533 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ONEOK by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 923,670 shares of the utilities provider’s stock worth $95,046,000 after acquiring an additional 86,056 shares during the period. Ausdal Financial Partners Inc. boosted its stake in shares of ONEOK by 24.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 7,981 shares of the utilities provider’s stock worth $801,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in shares of ONEOK by 9.1% during the 4th quarter. Financial Counselors Inc. now owns 12,043 shares of the utilities provider’s stock valued at $1,209,000 after acquiring an additional 1,002 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $98.76 on Friday. 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, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The business has a 50 day simple moving average of $98.53 and a two-hundred day simple moving average of $100.07. The stock has a market capitalization of $61.66 billion, a PE ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.17%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKE shares. Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Morgan Stanley increased 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. Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, 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 note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.