USS Investment Management Ltd Increases Holdings in ONEOK, Inc. (NYSE:OKE)

USS Investment Management Ltd increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 21.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 204,635 shares of the utilities provider’s stock after purchasing an additional 35,483 shares during the period. USS Investment Management Ltd’s holdings in ONEOK were worth $20,548,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Greenline Partners LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $32,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK in the 4th quarter valued at $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter worth $48,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of ONEOK in the fourth quarter worth $50,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OKE shares. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Finally, Scotiabank decreased their price target on shares of ONEOK from $100.00 to $96.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.69.

ONEOK Stock Performance

ONEOK stock opened at $83.67 on Wednesday. The firm has a fifty day simple moving average of $88.23 and a two-hundred day simple moving average of $97.55. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The company has a market capitalization of $52.26 billion, a PE ratio of 17.50, a P/E/G ratio of 3.77 and a beta of 1.01.

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

ONEOK Dividend Announcement

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

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.