ONEOK, Inc. (NYSE:OKE) Shares Sold by Aviva PLC

Aviva PLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 622,493 shares of the utilities provider’s stock after selling 68,397 shares during the period. Aviva PLC’s holdings in ONEOK were worth $62,498,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK during the fourth quarter worth about $48,000. VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $51,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

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

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is 79.69%.

Analysts Set New Price Targets

OKE has been the subject of a number of research analyst reports. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Scotiabank dropped their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.