Duff & Phelps Investment Management Co. Grows Position in ONEOK, Inc. (NYSE:OKE)

Duff & Phelps Investment Management Co. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,050,105 shares of the utilities provider’s stock after buying an additional 32,378 shares during the period. ONEOK comprises approximately 1.3% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 28th biggest holding. Duff & Phelps Investment Management Co.’s holdings in ONEOK were worth $105,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of ONEOK during the 3rd quarter worth $990,000. FMR LLC increased its position in ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after acquiring an additional 122,362 shares during the period. Avestar Capital LLC bought a new stake in shares of ONEOK during the third quarter valued at approximately $216,000. Townsquare Capital LLC lifted its stake in ONEOK by 6.7% in the third quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock valued at $9,782,000 after purchasing an additional 6,767 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK in the third quarter worth $47,957,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the subject of a number of research analyst reports. 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. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays reduced 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. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Trading Down 2.5 %

OKE stock opened at $98.76 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The business has a fifty day moving average price of $98.53 and a 200 day moving average price of $100.07. The stock has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. ONEOK’s dividend payout ratio is 79.69%.

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.