Gulf International Bank UK Ltd Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Gulf International Bank UK Ltd reduced its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,579 shares of the utilities provider’s stock after selling 502 shares during the period. Gulf International Bank UK Ltd’s holdings in ONEOK were worth $4,576,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OKE. Kieckhefer Group LLC bought a new position in ONEOK in the 4th quarter worth about $30,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Canton Hathaway LLC purchased a new position in ONEOK during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc increased its holdings in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in ONEOK in the 3rd quarter worth approximately $57,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $96.62 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $56.44 billion, a P/E ratio of 20.21, a P/E/G ratio of 3.77 and a beta of 1.70. The firm’s fifty day moving average is $100.91 and its 200 day moving average is $99.00. ONEOK, Inc. has a 52 week low of $73.89 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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 firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current 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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Analysts Set New Price Targets

A number of research analysts have recently commented on OKE shares. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. UBS Group upped 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. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $103.54.

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.