Los Angeles Capital Management LLC Acquires 14,557 Shares of ONEOK, Inc. (NYSE:OKE)

Los Angeles Capital Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 39.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,815 shares of the utilities provider’s stock after acquiring an additional 14,557 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $5,202,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC raised its stake in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after acquiring an additional 263,545 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after purchasing an additional 262,486 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $95.69 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $55.90 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average of $100.93 and a 200 day moving average of $99.01. ONEOK, Inc. has a one year low of $73.39 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.31%. ONEOK’s dividend payout ratio is presently 86.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OKE. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. 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. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Barclays assumed coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Seven 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.54.

About ONEOK

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.