Man Group plc Has $33.70 Million Position in ONEOK, Inc. (NYSE:OKE)

Man Group plc lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,653 shares of the utilities provider’s stock after acquiring an additional 42,474 shares during the period. Man Group plc owned approximately 0.06% of ONEOK worth $33,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Greenline Partners LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $32,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in ONEOK during the fourth quarter worth $39,000. Canton Hathaway LLC acquired a new stake in ONEOK in the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the fourth quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of ONEOK during the 4th quarter worth about $50,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OKE shares. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Scotiabank cut their price objective on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

NYSE OKE opened at $85.99 on Friday. The company’s 50 day moving average is $88.73 and its 200-day moving average is $97.76. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The firm has a market cap of $53.71 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the company posted $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

ONEOK Company 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.