Canada Pension Plan Investment Board Grows Stake in ONEOK, Inc. (NYSE:OKE)

Canada Pension Plan Investment Board grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,471 shares of the utilities provider’s stock after buying an additional 11,246 shares during the period. Canada Pension Plan Investment Board’s holdings in ONEOK were worth $10,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ONEOK by 2.6% during 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 position in ONEOK in the fourth quarter worth $539,554,000. Finally, Wellington Management Group LLP boosted its holdings in shares of ONEOK by 433.4% during the 4th 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 in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 5.0 %

Shares of OKE stock opened at $81.95 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The stock has a market capitalization of $51.19 billion, a P/E ratio of 17.14, a P/E/G ratio of 3.77 and a beta of 1.20. The firm’s 50 day moving average is $93.07 and its 200 day moving average is $99.31.

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, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 5.03%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company 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 research note on Monday, February 3rd. 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 research note on Monday, February 10th. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.42.

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.