Conning Inc. Increases Stake in ONEOK, Inc. (NYSE:OKE)

Conning Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,558 shares of the utilities provider’s stock after purchasing an additional 762 shares during the quarter. Conning Inc.’s holdings in ONEOK were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter valued at $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK during the 3rd quarter worth $44,000. Fortitude Family Office LLC lifted its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in ONEOK by 98.1% during the fourth 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 last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.1 %

Shares of NYSE:OKE opened at $95.75 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a fifty day simple moving average of $103.28 and a two-hundred day simple moving average of $97.41. ONEOK, Inc. has a 12-month low of $68.21 and a 12-month high of $118.07. The stock has a market capitalization of $55.94 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.30%. ONEOK’s payout ratio is presently 86.19%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays began coverage on shares of ONEOK in a report on Thursday. They issued an “equal weight” rating and a $105.00 target price on the stock. Finally, Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.42.

ONEOK Company 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.