M&G Plc Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

M&G Plc cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 907,575 shares of the utilities provider’s stock after selling 14,296 shares during the quarter. M&G Plc owned 0.16% of ONEOK worth $82,589,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OKE. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after buying an additional 501,216 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of ONEOK by 370.1% during the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after purchasing an additional 484,403 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of ONEOK by 3,137.6% during the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 392,644 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Price Performance

Shares of OKE stock opened at $102.20 on Thursday. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $103.12. The firm has a market capitalization of $59.70 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.08 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50-day simple moving average is $94.29 and its 200-day simple moving average is $86.31.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.