ABN Amro Investment Solutions Acquires New Shares in ONEOK, Inc. $OKE

ABN Amro Investment Solutions acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 61,001 shares of the utilities provider’s stock, valued at approximately $4,451,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the period. Empowered Funds LLC boosted its holdings in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. Acadian Asset Management LLC bought a new stake in shares of ONEOK during the first quarter worth $216,000. Mutual Advisors LLC increased its position in shares of ONEOK by 6.9% during the second quarter. Mutual Advisors LLC now owns 11,067 shares of the utilities provider’s stock worth $902,000 after acquiring an additional 715 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of ONEOK by 5.1% during the second quarter. Nordea Investment Management AB now owns 722,818 shares of the utilities provider’s stock worth $58,902,000 after acquiring an additional 35,359 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research reports. Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. UBS Group dropped their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. TD Cowen reduced their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.80.

ONEOK Price Performance

Shares of NYSE OKE opened at $86.09 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The business has a 50-day moving average of $75.76 and a 200-day moving average of $73.36. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 4.89 and a beta of 0.96. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio is 78.68%.

ONEOK Profile

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.