Zurcher Kantonalbank Zurich Cantonalbank Has $7.34 Million Position in ONEOK, Inc. (NYSE:OKE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,559 shares of the utilities provider's stock after buying an additional 18,194 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ONEOK were worth $7,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Moneta Group Investment Advisors LLC boosted its position in ONEOK by 118,109.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 22,562,603 shares of the utilities provider's stock valued at $1,482,363,000 after buying an additional 22,543,516 shares during the last quarter. Vanguard Group Inc. boosted its position in ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider's stock valued at $3,757,405,000 after buying an additional 5,525,010 shares during the last quarter. Cowa LLC boosted its position in ONEOK by 9,775.0% in the 1st quarter. Cowa LLC now owns 5,324,428 shares of the utilities provider's stock valued at $3,761,000 after buying an additional 5,270,510 shares during the last quarter. Deutsche Bank AG boosted its position in ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider's stock valued at $843,133,000 after buying an additional 3,636,660 shares during the last quarter. Finally, Blackstone Inc. boosted its position in ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider's stock valued at $226,973,000 after buying an additional 3,478,316 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the firm's stock in a transaction on Friday, March 1st. The shares were purchased 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 owns 2,700 shares in the company, valued at approximately $203,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Price Performance

Shares of NYSE OKE traded up $1.75 during mid-day trading on Friday, reaching $79.63. 3,044,511 shares of the company traded hands, compared to its average volume of 2,622,345. ONEOK, Inc. has a fifty-two week low of $55.91 and a fifty-two week 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 firm has a market cap of $46.48 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.87 and a beta of 1.65. The stock has a fifty day simple moving average of $76.74 and a 200-day simple moving average of $71.17.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 EPS 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 company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $1.08 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.97%. ONEOK's dividend payout ratio (DPR) is 71.35%.

Analyst Ratings Changes

Several equities analysts have recently commented on OKE shares. Raymond James increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, January 19th. Morgan Stanley raised their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 26th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a "neutral" rating in a report on Wednesday, March 20th. Citigroup raised their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Finally, UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $82.25.

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.