Norinchukin Bank The Grows Position in ONEOK, Inc. (NYSE:OKE)

Norinchukin Bank The grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,809 shares of the utilities provider's stock after buying an additional 3,001 shares during the period. Norinchukin Bank The's holdings in ONEOK were worth $2,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC raised its position in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after purchasing an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after purchasing an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC bought a new stake in shares of ONEOK during the 4th quarter valued at $251,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in ONEOK by 9.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after purchasing an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in ONEOK in the 4th quarter worth about $9,483,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 0.5 %

Shares of NYSE OKE traded down $0.42 during mid-day trading on Friday, hitting $85.86. The stock had a trading volume of 733,730 shares, compared to its average volume of 3,168,365. The business has a 50 day moving average price of $92.28 and a two-hundred day moving average price of $99.04. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. 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 $53.63 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.80%. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Finally, Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.42.

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.