ABN Amro Investment Solutions Invests $4.45 Million in ONEOK, Inc. $OKE

ABN Amro Investment Solutions bought a new stake in ONEOK, Inc. (NYSE:OKE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,001 shares of the utilities provider’s stock, valued at approximately $4,451,000.

Other large investors have also bought and sold shares of the company. City Holding Co. acquired a new position in ONEOK in the third quarter worth $28,000. Winnow Wealth LLC acquired a new position in ONEOK during the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates bought a new stake in ONEOK during the 3rd quarter worth about $29,000. Financial Consulate Inc. acquired a new stake in ONEOK in the 3rd quarter valued at about $29,000. Finally, Access Investment Management LLC bought a new position in shares of ONEOK in the second quarter worth about $33,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 1.8%

NYSE OKE opened at $86.09 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64. The company has a market capitalization of $54.17 billion, a PE ratio of 15.82, a P/E/G ratio of 4.89 and a beta of 0.96. The stock has a 50-day simple moving average of $75.76 and a 200 day simple moving average of $73.36.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 78.68%.

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of ONEOK in a research report on Wednesday, January 28th. Barclays decreased their price target on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.80.

ONEOK Company 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.