Varma Mutual Pension Insurance Co Grows Position in ONEOK, Inc. $OKE

Varma Mutual Pension Insurance Co increased its position in ONEOK, Inc. (NYSE:OKE) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,562 shares of the utilities provider’s stock after purchasing an additional 13,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in ONEOK were worth $12,227,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. grew its position in shares of ONEOK by 20.9% in the 3rd quarter. Cibc World Market Inc. now owns 248,455 shares of the utilities provider’s stock worth $18,130,000 after buying an additional 42,951 shares during the period. Caprock Group LLC purchased a new position in ONEOK during the 3rd quarter valued at about $2,236,000. Advisors Asset Management Inc. boosted its stake in ONEOK by 10.1% during the third quarter. Advisors Asset Management Inc. now owns 119,986 shares of the utilities provider’s stock worth $8,755,000 after acquiring an additional 11,041 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in ONEOK by 1.3% in the third quarter. Stratos Wealth Partners LTD. now owns 78,288 shares of the utilities provider’s stock worth $5,713,000 after purchasing an additional 976 shares during the period. Finally, Versor Investments LP increased its stake in shares of ONEOK by 120.7% during the third quarter. Versor Investments LP now owns 17,092 shares of the utilities provider’s stock valued at $1,247,000 after purchasing an additional 9,349 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.4%

Shares of NYSE:OKE opened at $84.55 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64. The company has a market cap of $53.20 billion, a P/E ratio of 15.54, a PEG ratio of 4.82 and a beta of 0.96. The stock’s fifty day moving average price is $75.57 and its 200-day moving average price is $73.46.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 78.68%.

Analysts Set New Price Targets

OKE has been the topic of a number of analyst reports. Citigroup dropped their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company dropped their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Scotiabank restated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Hold” and an average price target of $85.80.

ONEOK Company 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.