Elo Mutual Pension Insurance Co Has $5.83 Million Stake in ONEOK, Inc. (NYSE:OKE)

Elo Mutual Pension Insurance Co increased its stake in ONEOK, Inc. (NYSE:OKE) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,053 shares of the utilities provider’s stock after purchasing an additional 6,533 shares during the period. Elo Mutual Pension Insurance Co’s holdings in ONEOK were worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in OKE. Astoria Portfolio Advisors LLC. grew its holdings in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC boosted its position in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Performance

Shares of OKE stock opened at $98.76 on Friday. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.77 and a beta of 1.70. The company has a 50-day simple moving average of $98.53 and a 200 day simple moving average of $100.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations 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 predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.17%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

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.