Raiffeisen Bank International AG Makes New $1.63 Million Investment in ONEOK, Inc. (NYSE:OKE)

Raiffeisen Bank International AG bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,209 shares of the utilities provider's stock, valued at approximately $1,634,000.

Several other hedge funds have also made changes to their positions in OKE. ProShare Advisors LLC lifted its holdings in shares of ONEOK by 0.6% in the 4th quarter. ProShare Advisors LLC now owns 161,077 shares of the utilities provider's stock worth $16,172,000 after acquiring an additional 957 shares during the last quarter. Quantinno Capital Management LP raised its position in ONEOK by 37.8% in the fourth quarter. Quantinno Capital Management LP now owns 75,083 shares of the utilities provider's stock valued at $7,538,000 after purchasing an additional 20,583 shares during the period. Pathstone Holdings LLC lifted its stake in ONEOK by 6.0% during the fourth quarter. Pathstone Holdings LLC now owns 107,458 shares of the utilities provider's stock worth $10,789,000 after purchasing an additional 6,057 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of ONEOK during the fourth quarter worth $866,000. Finally, Man Group plc grew its stake in shares of ONEOK by 14.5% in the fourth quarter. Man Group plc now owns 335,653 shares of the utilities provider's stock valued at $33,700,000 after buying an additional 42,474 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE:OKE traded down $1.06 during trading hours on Tuesday, reaching $83.67. 2,485,322 shares of the company's stock were exchanged, compared to its average volume of 3,267,472. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $52.26 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 3.77 and a beta of 1.01. The company has a 50-day moving average of $88.43 and a 200 day moving average of $97.65.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $1.09 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Upgrades and Downgrades

OKE has been the topic of several research reports. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Stifel Nicolaus lowered their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Scotiabank cut their target price on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a research note on Tuesday. Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.69.

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.