ONEOK, Inc. (NYSE:OKE) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its ownership of ONEOK, Inc. by 19.9%, acquiring an additional 183,843 shares in the first quarter, bringing its total to over 1.1 million shares valued at approximately $109.9 million.
• A recent report shows that 69.13% of ONEOK's stock is owned by institutional investors, indicating strong support from hedge funds and other organizations.
• ONEOK declared a quarterly dividend of $1.03 per share, reflecting a 5.5% dividend yield, with a projected annual payout of $4.12 per share.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 19.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,107,513 shares of the utilities provider's stock after acquiring an additional 183,843 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of ONEOK worth $109,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. FMR LLC increased its holdings in ONEOK by 4.6% during the 4th quarter. FMR LLC now owns 1,225,282 shares of the utilities provider's stock worth $123,018,000 after purchasing an additional 53,365 shares during the period. FIL Ltd purchased a new position in ONEOK during the 4th quarter worth $913,000. Bank of Nova Scotia increased its holdings in ONEOK by 204.5% during the 4th quarter. Bank of Nova Scotia now owns 227,514 shares of the utilities provider's stock worth $22,842,000 after purchasing an additional 152,792 shares during the period. Finally, Advisory Services Network LLC increased its holdings in ONEOK by 6.7% during the 4th quarter. Advisory Services Network LLC now owns 27,790 shares of the utilities provider's stock worth $2,790,000 after purchasing an additional 1,743 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock traded down $0.95 during mid-day trading on Friday, hitting $74.53. 3,159,225 shares of the stock were exchanged, compared to its average volume of 3,619,503. The stock's fifty day simple moving average is $80.95 and its two-hundred day simple moving average is $87.52. The stock has a market capitalization of $46.94 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.76 and a beta of 0.99. ONEOK, Inc. has a 12-month low of $74.23 and a 12-month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same quarter last year, the company posted $1.33 earnings per share. On average, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. ONEOK's payout ratio is 80.31%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Citigroup cut their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target on the stock. Finally, Barclays cut their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.57.

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.