Rodgers Brothers Inc. Has $6.77 Million Stake in ONEOK, Inc. (NYSE:OKE)

Rodgers Brothers Inc. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 67,425 shares of the utilities provider’s stock after selling 500 shares during the period. Rodgers Brothers Inc.’s holdings in ONEOK were worth $6,769,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter worth about $539,554,000. Wellington Management Group LLP lifted its holdings in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $182,694,000. ClearBridge Investments Ltd bought a new stake in ONEOK during the fourth quarter worth $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock valued at $153,319,000 after buying an additional 1,246,963 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. 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 research note on Thursday, March 6th. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

NYSE OKE opened at $98.47 on Monday. The firm has a market cap of $61.48 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 is $98.32 and its 200-day moving average is $100.24. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping 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 firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

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.