Varma Mutual Pension Insurance Co Purchases 13,300 Shares of ONEOK, Inc. $OKE

Varma Mutual Pension Insurance Co lifted its position in ONEOK, Inc. (NYSE:OKE) by 8.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 167,562 shares of the utilities provider’s stock after purchasing an additional 13,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in ONEOK were worth $12,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the last quarter. Geode Capital Management LLC grew its position in ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after buying an additional 355,751 shares during the period. Invesco Ltd. increased its holdings in ONEOK by 0.6% during the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after buying an additional 46,892 shares during the last quarter. Finally, Norges Bank bought a new position in ONEOK in the second quarter worth approximately $562,832,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $84.55 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The business has a 50-day moving average price of $75.57 and a 200-day moving average price of $73.46. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 4.82 and a beta of 0.96.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is currently 78.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Wells Fargo & Company cut their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Barclays decreased their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.80.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.