M&G PLC Purchases 79,902 Shares of ONEOK, Inc. $OKE

M&G PLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,039,005 shares of the utilities provider’s stock after purchasing an additional 79,902 shares during the quarter. M&G PLC owned 0.17% of ONEOK worth $75,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of OKE. City Holding Co. acquired a new position in shares of ONEOK in the 3rd quarter valued at $28,000. Winnow Wealth LLC acquired a new position in ONEOK in the third quarter worth about $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK during the third quarter worth about $29,000. Financial Consulate Inc. acquired a new stake in ONEOK during the third quarter valued at approximately $29,000. Finally, Access Investment Management LLC bought a new stake in shares of ONEOK in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.8%

OKE opened at $86.09 on Monday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The stock has a market capitalization of $54.17 billion, a PE ratio of 15.82, a PEG ratio of 4.89 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average price of $75.76 and a two-hundred day moving average price of $73.36.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s payout ratio is 78.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OKE shares. Stifel Nicolaus set a $94.00 target price on ONEOK in a research report on Thursday, October 30th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, November 6th. Citigroup lowered their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. TD Cowen cut their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.80.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.