Elo Mutual Pension Insurance Co lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,061 shares of the utilities provider’s stock after acquiring an additional 480 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in ONEOK were worth $1,624,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Mariner LLC increased its stake in shares of ONEOK by 6.8% during the first quarter. Mariner LLC now owns 150,195 shares of the utilities provider’s stock worth $7,609,000 after acquiring an additional 9,589 shares during the period. Capital Management Corp VA grew its position in ONEOK by 2.0% during the first quarter. Capital Management Corp VA now owns 418,005 shares of the utilities provider’s stock worth $21,176,000 after buying an additional 8,125 shares during the period. Waratah Capital Advisors Ltd. grew its position in ONEOK by 56.0% during the first quarter. Waratah Capital Advisors Ltd. now owns 26,696 shares of the utilities provider’s stock worth $1,352,000 after buying an additional 9,588 shares during the period. Moors & Cabot Inc. grew its position in ONEOK by 43.6% during the fourth quarter. Moors & Cabot Inc. now owns 61,918 shares of the utilities provider’s stock worth $2,375,000 after buying an additional 18,786 shares during the period. Finally, Boenning & Scattergood Inc. acquired a new position in ONEOK during the first quarter worth about $225,000. Institutional investors and hedge funds own 63.97% of the company’s stock.
Shares of OKE opened at $54.78 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $24.41 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 2.70 and a beta of 2.01. The firm’s 50 day moving average price is $52.64. ONEOK, Inc. has a 1 year low of $23.28 and a 1 year high of $56.18.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, April 26th were paid a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a dividend yield of 6.83%. The ex-dividend date of this dividend was Friday, April 23rd. ONEOK’s payout ratio is 263.38%.
Several research analysts have weighed in on the stock. Raymond James upped their target price on shares of ONEOK from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Wells Fargo & Company upped their target price on shares of ONEOK from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup upped their target price on shares of ONEOK from $49.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Mizuho increased their price target on shares of ONEOK from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, April 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.59.
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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