IFM Investors Pty Ltd Buys 24,805 Shares of ONEOK, Inc. (NYSE:OKE)

IFM Investors Pty Ltd boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,728 shares of the utilities provider’s stock after purchasing an additional 24,805 shares during the period. IFM Investors Pty Ltd’s holdings in ONEOK were worth $20,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC grew its position in shares of ONEOK by 13.1% during the 1st quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after purchasing an additional 864 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of ONEOK by 8.2% during the 1st quarter. Ballentine Partners LLC now owns 4,224 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 319 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of ONEOK by 1.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock worth $1,561,000 after buying an additional 350 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in shares of ONEOK during the first quarter worth $218,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of ONEOK by 14.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,571 shares of the utilities provider’s stock valued at $928,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.3 %

OKE stock traded up $0.31 during trading on Thursday, reaching $97.07. 403,010 shares of the company traded hands, compared to its average volume of 2,722,157. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43. The business has a 50 day simple moving average of $92.46 and a 200 day simple moving average of $85.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $56.70 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the business posted $1.04 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.06 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is currently 86.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Truist Financial upped their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.77.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.