Unigestion Holding SA Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Unigestion Holding SA bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, Holdings Channel reports. The fund bought 10,079 shares of the utilities provider’s stock, valued at approximately $1,012,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Kieckhefer Group LLC bought a new position in ONEOK in the 4th quarter worth $30,000. Canton Hathaway LLC bought a new position in ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the fourth quarter worth about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the 4th quarter valued at approximately $50,000. Finally, OFI Invest Asset Management purchased a new position in shares of ONEOK during the 4th quarter worth approximately $51,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research reports. Wells Fargo & Company dropped their target price 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. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of NYSE OKE opened at $80.73 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $97.08 and its 200-day moving average price is $100.26. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The company has a market cap of $50.40 billion, a PE ratio of 16.89, a PEG ratio of 3.77 and a beta of 1.20.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. ONEOK’s dividend payout ratio is currently 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.