Raiffeisen Bank International AG Purchases 11,618 Shares of ONEOK, Inc. $OKE

Raiffeisen Bank International AG grew its holdings in ONEOK, Inc. (NYSE:OKE) by 106.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,561 shares of the utilities provider’s stock after acquiring an additional 11,618 shares during the period. Raiffeisen Bank International AG’s holdings in ONEOK were worth $1,649,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of ONEOK by 0.8% during 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. Focused Wealth Management Inc increased its position in ONEOK by 4.3% during the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after buying an additional 142 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of ONEOK by 4.2% during the second quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 144 shares in the last quarter. Silver Lake Advisory LLC raised its holdings in ONEOK by 1.4% in the third quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock worth $787,000 after buying an additional 147 shares during the last quarter. Finally, Alternative Investment Advisors LLC. lifted its position in ONEOK by 1.2% in the 2nd quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock valued at $1,019,000 after acquiring an additional 148 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OKE shares. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective for the company. Barclays decreased their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, UBS Group decreased their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.80.

ONEOK Stock Up 0.5%

Shares of OKE opened at $87.31 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The business has a fifty day moving average of $77.00 and a 200 day moving average of $73.66. The company has a market cap of $54.94 billion, a PE ratio of 16.05, a P/E/G ratio of 4.90 and a beta of 0.96. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is currently 78.68%.

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.