CANADA LIFE ASSURANCE Co Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

CANADA LIFE ASSURANCE Co decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 754,750 shares of the utilities provider’s stock after selling 20,479 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.13% of ONEOK worth $75,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the fourth quarter worth about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK in the fourth quarter worth $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.6 %

Shares of NYSE:OKE opened at $86.19 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $93.64 and its 200 day moving average price is $99.37. The company has a market cap of $53.84 billion, a PE ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.78%. ONEOK’s dividend payout ratio is presently 79.69%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OKE shares. Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $106.42.

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.