Tokio Marine Asset Management Co. Ltd. Has $1.02 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Tokio Marine Asset Management Co. Ltd. raised its stake in ONEOK, Inc. (NYSE:OKE) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,463 shares of the utilities provider’s stock after buying an additional 854 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ONEOK were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Private Trust Co. NA lifted its holdings in shares of ONEOK by 65.4% during the third quarter. Private Trust Co. NA now owns 6,118 shares of the utilities provider’s stock worth $388,000 after purchasing an additional 2,418 shares during the period. UMB Bank n.a. lifted its holdings in shares of ONEOK by 330.0% during the third quarter. UMB Bank n.a. now owns 10,187 shares of the utilities provider’s stock worth $646,000 after purchasing an additional 7,818 shares during the period. Czech National Bank lifted its holdings in shares of ONEOK by 92.1% during the third quarter. Czech National Bank now owns 101,804 shares of the utilities provider’s stock worth $6,457,000 after purchasing an additional 48,821 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of ONEOK by 26.6% during the third quarter. Asset Management One Co. Ltd. now owns 232,933 shares of the utilities provider’s stock worth $14,775,000 after purchasing an additional 48,879 shares during the period. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of ONEOK by 162.9% during the third quarter. Connecticut Wealth Management LLC now owns 10,733 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 6,650 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 0.4 %

NYSE:OKE opened at $81.06 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The firm has a 50-day moving average of $77.78 and a 200-day moving average of $71.65. The company has a market cap of $47.31 billion, a PE ratio of 14.61, a PEG ratio of 4.97 and a beta of 1.65. ONEOK, Inc. has a one year low of $55.91 and a one year high of $81.81.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). ONEOK had a return on equity of 22.57% and a net margin of 15.04%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm posted $1.08 earnings per share. As a group, equities research analysts expect that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 71.35%.

ONEOK declared that its board has authorized a share buyback plan on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley lifted their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. Barclays lifted their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Stifel Nicolaus lifted their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.25.

Insider Buying and Selling

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

About ONEOK

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.