ONEOK, Inc. $OKE Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE) by 10.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,986 shares of the utilities provider’s stock after acquiring an additional 11,041 shares during the period. Advisors Asset Management Inc.’s holdings in ONEOK were worth $8,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OKE. Norges Bank bought a new position in ONEOK in the second quarter valued at $562,832,000. First Eagle Investment Management LLC increased its position in shares of ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after acquiring an additional 3,545,256 shares in the last quarter. Boston Partners boosted its stake in ONEOK by 53.7% in the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after acquiring an additional 1,924,864 shares during the last quarter. Vanguard Group Inc. boosted its stake in ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Finally, Man Group plc lifted its stake in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after purchasing an additional 1,161,352 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 1.8%

OKE stock opened at $84.95 on Thursday. The firm has a market cap of $53.45 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 4.74 and a beta of 0.96. The firm has a fifty day moving average price of $75.40 and a two-hundred day moving average price of $73.39. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio is presently 78.68%.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Scotiabank reiterated an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Barclays cut their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.80.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.