Ilmarinen Mutual Pension Insurance Co Has $8.43 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,000 shares of the utilities provider’s stock after buying an additional 11,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in ONEOK were worth $8,434,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in shares of ONEOK by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 828,075 shares of the utilities provider’s stock valued at $83,168,000 after acquiring an additional 310,377 shares in the last quarter. Annandale Capital LLC acquired a new stake in ONEOK during the 4th quarter valued at $205,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of ONEOK by 41.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider’s stock valued at $1,546,000 after purchasing an additional 4,538 shares in the last quarter. KCM Investment Advisors LLC boosted its position in shares of ONEOK by 90.7% in the fourth quarter. KCM Investment Advisors LLC now owns 4,743 shares of the utilities provider’s stock worth $476,000 after buying an additional 2,256 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of ONEOK during the fourth quarter valued at $17,580,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

OKE opened at $80.73 on Friday. 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 cap of $50.40 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The stock has a 50-day moving average of $97.08 and a 200-day moving average of $100.26. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a yield of 5.10%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

A number of equities research analysts have commented on OKE shares. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven investment 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 stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.