Sei Investments Co. Has $18.41 Million Position in ONEOK, Inc. (NYSE:OKE)

Sei Investments Co. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 183,340 shares of the utilities provider’s stock after buying an additional 17,910 shares during the quarter. Sei Investments Co.’s holdings in ONEOK were worth $18,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of ONEOK during the third quarter worth approximately $990,000. FMR LLC grew its holdings in ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after buying an additional 122,362 shares in the last quarter. Avestar Capital LLC acquired a new position in ONEOK in the 3rd quarter valued at $216,000. Townsquare Capital LLC increased its position in ONEOK by 6.7% during the 3rd quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock worth $9,782,000 after buying an additional 6,767 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK during the third quarter worth $47,957,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $98.76 on Friday. The stock has a market cap of $61.66 billion, a PE ratio of 20.66, a P/E/G 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 12-month low of $76.23 and a 12-month high of $118.07. The business’s 50-day moving average price is $98.53 and its two-hundred day moving average price is $100.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.17%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. 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. Wells Fargo & Company dropped their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Scotiabank reduced their price target 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. Barclays dropped their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company 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.