Canada Pension Plan Investment Board Grows Position in ONEOK, Inc. (NYSE:OKE)

Canada Pension Plan Investment Board grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,471 shares of the utilities provider’s stock after buying an additional 11,246 shares during the period. Canada Pension Plan Investment Board’s holdings in ONEOK were worth $10,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. GKV Capital Management Co. Inc. bought a new stake in shares of ONEOK during the 4th quarter valued at $5,382,000. Capital Square LLC increased its stake in ONEOK by 5.1% in the 4th quarter. Capital Square LLC now owns 3,270 shares of the utilities provider’s stock worth $342,000 after buying an additional 160 shares in the last quarter. Farringdon Capital Ltd. bought a new stake in ONEOK during the fourth quarter valued at about $1,399,000. Marshall Wace LLP lifted its position in shares of ONEOK by 276.4% in the fourth quarter. Marshall Wace LLP now owns 971,913 shares of the utilities provider’s stock valued at $97,580,000 after acquiring an additional 713,685 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of ONEOK in the fourth quarter worth about $1,942,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 5.0 %

Shares of OKE stock opened at $81.95 on Tuesday. The company has a market cap of $51.19 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $93.07 and its two-hundred day simple moving average is $99.31. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. 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 dividend yield of 5.03%. ONEOK’s payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OKE. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Finally, Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.42.

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.