Advisors Asset Management Inc. Acquires 11,041 Shares of ONEOK, Inc. $OKE

Advisors Asset Management Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 119,986 shares of the utilities provider’s stock after buying an additional 11,041 shares during the quarter. Advisors Asset Management Inc.’s holdings in ONEOK were worth $8,755,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of ONEOK during the second quarter valued at approximately $562,832,000. First Eagle Investment Management LLC raised its position in ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after purchasing an additional 3,545,256 shares in the last quarter. Boston Partners increased its position in shares of ONEOK by 53.7% during the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after purchasing an additional 1,924,864 shares during the last quarter. Vanguard Group Inc. lifted its stake in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Finally, Man Group plc lifted its position in ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after purchasing an additional 1,161,352 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.8%

Shares of OKE opened at $84.95 on Thursday. The stock has a market cap of $53.45 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 4.74 and a beta of 0.96. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The firm’s fifty day moving average is $75.40 and its two-hundred day moving average is $73.39.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is 78.68%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Barclays cut their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target for the company. Citigroup reduced their price objective on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.80.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.