Tokio Marine Asset Management Co. Ltd. Has $1.02 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,463 shares of the utilities provider’s stock after buying an additional 854 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ONEOK were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OKE. Private Trust Co. NA boosted its position in shares of ONEOK by 65.4% in the third quarter. Private Trust Co. NA now owns 6,118 shares of the utilities provider’s stock worth $388,000 after buying an additional 2,418 shares during the period. UMB Bank n.a. boosted its position in ONEOK by 330.0% during the third quarter. UMB Bank n.a. now owns 10,187 shares of the utilities provider’s stock valued at $646,000 after purchasing an additional 7,818 shares during the last quarter. Czech National Bank boosted its position in ONEOK by 92.1% during the third quarter. Czech National Bank now owns 101,804 shares of the utilities provider’s stock valued at $6,457,000 after purchasing an additional 48,821 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in ONEOK by 26.6% during the third quarter. Asset Management One Co. Ltd. now owns 232,933 shares of the utilities provider’s stock valued at $14,775,000 after purchasing an additional 48,879 shares during the last quarter. Finally, Connecticut Wealth Management LLC boosted its position in ONEOK by 162.9% during the third quarter. Connecticut Wealth Management LLC now owns 10,733 shares of the utilities provider’s stock valued at $681,000 after purchasing an additional 6,650 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OKE shares. UBS Group lifted their price objective on ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Seaport Res Ptn upgraded ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $82.25.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith acquired 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Down 0.4 %

NYSE OKE opened at $81.06 on Friday. The stock’s 50 day moving average is $77.78 and its two-hundred day moving average is $71.65. ONEOK, Inc. has a 1-year low of $55.91 and a 1-year high of $81.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $47.31 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.97 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $1.08 EPS. Equities analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is 71.35%.

ONEOK announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.