Pictet Asset Management Holding SA Has $28.60 Million Position in ONEOK, Inc. (NYSE:OKE)

Pictet Asset Management Holding SA trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 284,808 shares of the utilities provider’s stock after selling 3,094 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ONEOK were worth $28,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. FNY Investment Advisers LLC grew its stake in shares of ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after buying an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC grew its stake in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $251,000. Rockefeller Capital Management L.P. raised its position in shares of ONEOK by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after purchasing an additional 5,067 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after purchasing an additional 136,071 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 0.2 %

NYSE OKE opened at $98.47 on Monday. The business’s fifty day moving average is $98.32 and its 200-day moving average is $100.24. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $61.48 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. ONEOK’s payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OKE shares. Scotiabank lowered their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Seven research 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 company. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.