Meiji Yasuda Asset Management Co Ltd. Sells 969 Shares of ONEOK, Inc. (NYSE:OKE)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,716 shares of the utilities provider’s stock after selling 969 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in ONEOK were worth $1,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in ONEOK in the fourth quarter valued at about $182,694,000. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the period. GQG Partners LLC boosted its holdings in shares of ONEOK by 217.2% in the fourth quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock worth $123,995,000 after buying an additional 845,715 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after buying an additional 558,789 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter valued at approximately $47,957,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Trading Down 1.1 %

ONEOK stock opened at $101.22 on Thursday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm’s 50 day moving average price is $98.72 and its 200-day moving average price is $100.08. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $63.20 billion, a P/E ratio of 21.18, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.07%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

ONEOK 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.