Public Sector Pension Investment Board Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Public Sector Pension Investment Board raised its holdings in ONEOK, Inc. (NYSE:OKE) by 65.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,840 shares of the utilities provider’s stock after purchasing an additional 27,740 shares during the quarter. Public Sector Pension Investment Board’s holdings in ONEOK were worth $3,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in ONEOK by 4.2% in the 2nd quarter. BlackRock Inc. now owns 43,059,696 shares of the utilities provider’s stock valued at $2,395,843,000 after purchasing an additional 1,740,062 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ONEOK by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 9,191,963 shares of the utilities provider’s stock worth $465,665,000 after acquiring an additional 126,360 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of ONEOK by 17.5% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,880,051 shares of the utilities provider’s stock worth $438,446,000 after acquiring an additional 1,171,656 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 6.5% during the 1st quarter. Geode Capital Management LLC now owns 7,731,953 shares of the utilities provider’s stock worth $390,684,000 after acquiring an additional 469,619 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of ONEOK by 15.8% during the 1st quarter. Morgan Stanley now owns 4,841,474 shares of the utilities provider’s stock worth $245,269,000 after acquiring an additional 662,379 shares in the last quarter. 64.04% of the stock is currently owned by institutional investors.

Several brokerages have recently commented on OKE. Sanford C. Bernstein raised ONEOK from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research note on Thursday, September 23rd. Morgan Stanley boosted their price target on ONEOK from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 26th. Bank of America began coverage on ONEOK in a research note on Tuesday, September 28th. They set a “neutral” rating on the stock. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Friday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on ONEOK from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $52.15.

Shares of OKE opened at $63.27 on Thursday. The stock has a fifty day moving average of $54.92 and a two-hundred day moving average of $53.93. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $28.20 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.66 and a beta of 2.05. ONEOK, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $63.51.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $4.01 billion. ONEOK had a return on equity of 22.30% and a net margin of 11.90%. As a group, equities research analysts forecast that ONEOK, Inc. will post 3.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were issued a $0.935 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.74 annualized dividend and a yield of 5.91%. ONEOK’s dividend payout ratio (DPR) is presently 263.38%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

Further Reading: What does it mean to hold a stock in street name?

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE).

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.