Zurich Insurance Group Ltd FI Takes Position in ONEOK, Inc. (NYSE:OKE)

Zurich Insurance Group Ltd FI bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,800 shares of the utilities provider's stock, valued at approximately $2,289,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Norges Bank bought a new position in ONEOK in the fourth quarter valued at approximately $539,554,000. Wellington Management Group LLP raised its stake in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after buying an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD raised its stake in ONEOK by 240.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after buying an additional 1,971,147 shares during the period. Raymond James Financial Inc. bought a new position in shares of ONEOK during the fourth quarter worth approximately $182,694,000. Finally, ClearBridge Investments Ltd bought a new position in shares of ONEOK during the fourth quarter worth approximately $177,045,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 0.3%

OKE traded down $0.24 during trading on Friday, hitting $81.13. 2,115,540 shares of the company's stock were exchanged, compared to its average volume of 3,275,178. The business's 50 day moving average is $87.26 and its two-hundred day moving average is $97.22. The stock has a market cap of $50.68 billion, a P/E ratio of 16.97, a PEG ratio of 3.77 and a beta of 1.01. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.08%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Scotiabank lowered their price objective on ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a research note on Tuesday. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Stifel Nicolaus reduced their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $104.69.

About ONEOK

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.