Nordea Investment Management AB Acquires 463,614 Shares of ONEOK, Inc. (NYSE:OKE)

Nordea Investment Management AB increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1,219.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 501,636 shares of the utilities provider’s stock after buying an additional 463,614 shares during the quarter. Nordea Investment Management AB’s holdings in ONEOK were worth $50,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Everence Capital Management Inc. raised its stake in shares of ONEOK by 4.2% during the 4th quarter. Everence Capital Management Inc. now owns 22,090 shares of the utilities provider’s stock worth $2,218,000 after purchasing an additional 890 shares during the period. GAMMA Investing LLC boosted its stake in ONEOK by 26.5% in the fourth quarter. GAMMA Investing LLC now owns 12,265 shares of the utilities provider’s stock valued at $1,231,000 after acquiring an additional 2,573 shares during the last quarter. Versant Capital Management Inc grew its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the period. BancFirst Trust & Investment Management increased its stake in shares of ONEOK by 2.5% during the 4th quarter. BancFirst Trust & Investment Management now owns 25,631 shares of the utilities provider’s stock worth $2,583,000 after purchasing an additional 614 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of ONEOK by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock worth $64,731,000 after purchasing an additional 24,193 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $101.60 on Wednesday. The stock has a market cap of $59.35 billion, a P/E ratio of 21.26, a PEG ratio of 5.24 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $105.22 and its two-hundred day moving average price is $94.49. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.90%. ONEOK’s payout ratio is 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OKE shares. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $101.00.

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.