Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in ONEOK, Inc. $OKE

Mirae Asset Global Investments Co. Ltd. grew its stake in ONEOK, Inc. (NYSE:OKE) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669,882 shares of the utilities provider’s stock after buying an additional 10,935 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.11% of ONEOK worth $48,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. City Holding Co. purchased a new stake in shares of ONEOK in the third quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new position in shares of ONEOK in the third quarter valued at $29,000. Financial Consulate Inc. purchased a new position in shares of ONEOK in the third quarter valued at $29,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the 2nd quarter worth about $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in ONEOK during the 2nd quarter valued at about $34,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on OKE shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Jefferies Financial Group began coverage on ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a report on Thursday, October 30th. Finally, Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

ONEOK Stock Up 2.1%

Shares of NYSE:OKE opened at $79.34 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The firm has a 50 day simple moving average of $73.66 and a 200 day simple moving average of $73.43. The company has a market cap of $49.93 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same period in the prior year, the firm posted $1.18 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

About ONEOK

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.