ONEOK, Inc. (NYSE:OKE) Stock Holdings Lifted by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has increased its holdings in ONEOK, Inc. by 19.2%, owning 1,820,199 shares valued at approximately $180.6 million.
• Other notable institutional investors have also raised their positions in ONEOK, including Price T Rowe Associates, which boosted its stake by 240.5% during the fourth quarter.
• ONEOK recently reported a quarterly EPS of $1.04, missing estimates and leading to a dividend declaration of $1.03 per share, with a yield of 5.2%.

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,820,199 shares of the utilities provider's stock after buying an additional 293,300 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.29% of ONEOK worth $180,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. SPC Financial Inc. raised its stake in ONEOK by 7.3% in the 1st quarter. SPC Financial Inc. now owns 33,539 shares of the utilities provider's stock valued at $3,328,000 after purchasing an additional 2,294 shares during the last quarter. TIAA Trust National Association raised its position in shares of ONEOK by 14.4% in the first quarter. TIAA Trust National Association now owns 6,310 shares of the utilities provider's stock valued at $626,000 after buying an additional 792 shares during the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. purchased a new position in shares of ONEOK during the first quarter valued at approximately $412,000. MONECO Advisors LLC boosted its holdings in shares of ONEOK by 25.3% during the first quarter. MONECO Advisors LLC now owns 7,415 shares of the utilities provider's stock worth $736,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Hartford Investment Management Co. increased its stake in shares of ONEOK by 4.6% during the 1st quarter. Hartford Investment Management Co. now owns 37,949 shares of the utilities provider's stock valued at $3,765,000 after acquiring an additional 1,683 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on OKE shares. Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Wells Fargo & Company lowered their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased 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. Finally, Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $104.57.

ONEOK Stock Performance

OKE stock traded up $0.86 during midday trading on Monday, reaching $79.85. The company had a trading volume of 3,435,483 shares, compared to its average volume of 3,273,855. The firm has a market capitalization of $50.27 billion, a PE ratio of 15.60, a P/E/G ratio of 1.87 and a beta of 0.99. The stock has a 50 day moving average price of $81.42 and a 200 day moving average price of $88.50. ONEOK, Inc. has a fifty-two week low of $75.47 and a fifty-two week high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period last year, the firm earned $1.33 EPS. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors 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 yield of 5.2%. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

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.