ONEOK, Inc. (NYSE:OKE) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its stake in ONEOK, Inc. (NYSE:OKE) by 42.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,007 shares of the utilities provider’s stock after selling 5,066 shares during the period. AIA Group Ltd’s holdings in ONEOK were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the fourth quarter worth $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK during the fourth quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new position in ONEOK in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.8 %

Shares of NYSE:OKE opened at $99.28 on Tuesday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock has a market cap of $61.98 billion, a P/E ratio of 20.77, a PEG ratio of 3.77 and a beta of 1.70. The business has a fifty day moving average of $98.12 and a two-hundred day moving average of $100.30. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. On average, 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 was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.15%. ONEOK’s dividend payout ratio is currently 79.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on 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 initiated coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK 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.