ONEOK, Inc. (NYSE:OKE) Position Reduced by Korea Investment CORP

Korea Investment CORP reduced its position in ONEOK, Inc. (NYSE:OKE) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 341,866 shares of the utilities provider’s stock after selling 28,876 shares during the period. Korea Investment CORP’s holdings in ONEOK were worth $34,323,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in OKE. Kieckhefer Group LLC purchased a new stake in ONEOK in the 4th quarter worth about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new stake in shares of ONEOK in the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.2 %

OKE stock opened at $98.47 on Friday. The stock has a market capitalization of $61.48 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a 50-day moving average of $98.32 and a two-hundred day moving average of $100.11. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. 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 released 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research analyst reports. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.00.

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.