Mirae Asset Global Investments Co. Ltd. Sells 197,524 Shares of ONEOK, Inc. (NYSE:OKE)

Mirae Asset Global Investments Co. Ltd. cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,397,354 shares of the utilities provider's stock after selling 197,524 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.24% of ONEOK worth $98,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peoples Bank KS purchased a new stake in shares of ONEOK during the third quarter valued at approximately $25,000. Beacon Capital Management LLC increased its position in ONEOK by 90.7% in the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider's stock worth $29,000 after buying an additional 194 shares during the last quarter. Quent Capital LLC increased its position in ONEOK by 97.7% in the third quarter. Quent Capital LLC now owns 437 shares of the utilities provider's stock worth $28,000 after buying an additional 216 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in ONEOK in the fourth quarter worth $29,000. Finally, Worth Asset Management LLC purchased a new stake in ONEOK in the first quarter worth $30,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on OKE shares. Citigroup raised their target price on ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price target on ONEOK from $81.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday, March 13th. Wolfe Research raised ONEOK from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 10th. Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a "neutral" rating in a report on Wednesday, March 20th. Finally, Seaport Res Ptn raised ONEOK from a "neutral" rating to a "buy" rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has an average rating of "Hold" and an average price target of $81.73.

ONEOK Price Performance

NYSE OKE traded up $0.43 during trading hours on Friday, reaching $79.65. 1,976,076 shares of the stock traded hands, compared to its average volume of 2,704,693. The stock has a 50 day simple moving average of $74.75 and a two-hundred day simple moving average of $70.10. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $80.81. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.46 and a beta of 1.65.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter in the previous year, the business earned $1.08 EPS. On average, analysts predict that ONEOK, Inc. will post 4.63 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were given a dividend of $0.99 per share. This is an increase from ONEOK's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Monday, January 29th. This represents a $3.96 dividend on an annualized basis and a yield of 4.97%. ONEOK's dividend payout ratio (DPR) is presently 71.35%.

ONEOK declared that its board has approved a stock buyback program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares of the company's stock, valued at approximately $203,175. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.65% of the company's stock.

ONEOK 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.