Brown Brothers Harriman & Co. Acquires 603 Shares of ONEOK, Inc. (NYSE:OKE)

Brown Brothers Harriman & Co. raised its holdings in ONEOK, Inc. (NYSE:OKE) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,401 shares of the utilities provider’s stock after buying an additional 603 shares during the period. Brown Brothers Harriman & Co.’s holdings in ONEOK were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ONEOK by 3.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC grew its holdings in ONEOK by 9,439.9% during 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 in the last quarter. Finally, abrdn plc raised its position in ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE:OKE opened at $113.45 on Wednesday. The company has a market capitalization of $66.28 billion, a P/E ratio of 23.73, a P/E/G ratio of 5.56 and a beta of 1.66. The business has a fifty day simple moving average of $99.60 and a two-hundred day simple moving average of $89.46. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $65.49 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the business posted $0.99 EPS. On average, analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on 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 SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

OKE has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial boosted their target price on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.38.

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.