Mirae Asset Global Investments Co. Ltd. Has $48.88 Million Holdings in ONEOK, Inc. $OKE

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,882 shares of the utilities provider’s stock after acquiring an additional 10,935 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ONEOK were worth $48,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. bought a new stake in ONEOK during the 3rd quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new position in shares of ONEOK during the third quarter worth approximately $29,000. Financial Consulate Inc. bought a new stake in shares of ONEOK in the third quarter valued at approximately $29,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the second quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in ONEOK during the second quarter worth $34,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the topic of several research reports. Jefferies Financial Group started coverage on shares of ONEOK in a report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. TD Cowen lowered their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Stifel Nicolaus set a $94.00 price objective on ONEOK in a research report on Thursday, October 30th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Thursday, November 6th. Finally, UBS Group reduced their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

ONEOK Stock Up 2.1%

Shares of OKE opened at $79.34 on Thursday. The business’s fifty day moving average price is $73.66 and its two-hundred day moving average price is $73.43. The firm has a market capitalization of $49.93 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 4.40 and a beta of 0.94. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter last year, the business posted $1.18 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business 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 annualized dividend and a dividend yield of 5.4%. 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 is 75.74%.

Insider Transactions at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the purchase, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.