Nordea Investment Management AB Has $50.29 Million Position in ONEOK, Inc. (NYSE:OKE)

Nordea Investment Management AB grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 1,219.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,636 shares of the utilities provider’s stock after purchasing an additional 463,614 shares during the quarter. Nordea Investment Management AB owned approximately 0.09% of ONEOK worth $50,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. International Assets Investment Management LLC raised its stake in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the 3rd quarter worth about $47,957,000. Bahl & Gaynor Inc. grew its position in shares of ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of ONEOK during the third quarter worth about $45,194,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 0.0 %

Shares of NYSE OKE opened at $101.60 on Wednesday. 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 company has a 50-day moving average price of $105.22 and a 200-day moving average price of $94.49. The stock has a market capitalization of $59.35 billion, a P/E ratio of 21.26, a P/E/G ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $0.99 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.90%. ONEOK’s payout ratio is 82.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKE. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Barclays upped their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.00.

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.