Prudential Financial Inc. Has $32.68 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Prudential Financial Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 13.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 325,495 shares of the utilities provider’s stock after selling 51,907 shares during the period. Prudential Financial Inc.’s holdings in ONEOK were worth $32,680,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. boosted its position in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 96 shares during the last quarter. McAdam LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its position in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC grew its stake in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA boosted its holdings in shares of ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OKE shares. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. 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. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Trading Up 0.1 %

Shares of OKE stock opened at $102.42 on Wednesday. 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 company has a market capitalization of $63.94 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The company has a 50-day simple moving average of $98.84 and a two-hundred day simple moving average of $100.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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 yield of 4.02%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 79.69%.

ONEOK Company 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.