Asset Management One Co. Ltd. Buys 44,418 Shares of ONEOK, Inc. (NYSE:OKE)

Asset Management One Co. Ltd. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,564 shares of the utilities provider’s stock after acquiring an additional 44,418 shares during the period. Asset Management One Co. Ltd.’s holdings in ONEOK were worth $26,172,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Avestar Capital LLC increased its position in shares of ONEOK by 17.2% during the fourth quarter. Avestar Capital LLC now owns 2,771 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 406 shares in the last quarter. MGB Wealth Management LLC grew its position in ONEOK by 0.9% in the fourth quarter. MGB Wealth Management LLC now owns 37,144 shares of the utilities provider’s stock valued at $3,731,000 after purchasing an additional 344 shares in the last quarter. Van ECK Associates Corp grew its position in ONEOK by 3.9% in the fourth quarter. Van ECK Associates Corp now owns 204,614 shares of the utilities provider’s stock valued at $20,544,000 after purchasing an additional 7,759 shares in the last quarter. Values First Advisors Inc. grew its position in ONEOK by 379.4% in the fourth quarter. Values First Advisors Inc. now owns 2,325 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Davidson Capital Management Inc. grew its position in ONEOK by 77.4% in the fourth quarter. Davidson Capital Management Inc. now owns 31,558 shares of the utilities provider’s stock valued at $3,168,000 after purchasing an additional 13,769 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $97.96 on Friday. The firm has a 50-day moving average of $102.01 and a 200-day moving average of $97.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $57.23 billion, a PE ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $69.01 and a 52-week high of $118.07.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. 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. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

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.