M&G PLC Has $75.85 Million Stake in ONEOK, Inc. $OKE

M&G PLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,039,005 shares of the utilities provider’s stock after acquiring an additional 79,902 shares during the quarter. M&G PLC’s holdings in ONEOK were worth $75,847,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ONEOK in the 2nd quarter valued at $562,832,000. First Eagle Investment Management LLC lifted its stake in ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock valued at $510,691,000 after buying an additional 3,545,256 shares during the period. Boston Partners boosted its holdings in ONEOK by 53.7% during the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after buying an additional 1,924,864 shares during the last quarter. Vanguard Group Inc. grew its position in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after buying an additional 1,314,002 shares during the period. Finally, Man Group plc increased its stake in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after acquiring an additional 1,161,352 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $86.09 on Monday. The firm’s 50 day moving average is $75.76 and its 200-day moving average is $73.36. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $54.17 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. The ex-dividend date was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is currently 78.68%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OKE. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Wells Fargo & Company reduced their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley restated an “overweight” rating and issued a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Barclays decreased their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $85.80.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.