Metis Global Partners LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Metis Global Partners LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 41.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,873 shares of the utilities provider’s stock after buying an additional 22,534 shares during the quarter. Metis Global Partners LLC’s holdings in ONEOK were worth $7,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. National Pension Service grew its position in ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. boosted its stake in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of ONEOK during the 2nd quarter valued at about $1,225,000. Point72 Europe London LLP purchased a new position in shares of ONEOK in the 2nd quarter valued at about $15,008,000. Finally, Sageworth Trust Co acquired a new position in ONEOK in the 3rd quarter worth about $568,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.3 %

Shares of NYSE:OKE opened at $108.17 on Thursday. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $109.21. The stock has a market cap of $63.19 billion, a P/E ratio of 22.63, a PEG ratio of 5.38 and a beta of 1.66. The business has a fifty day moving average of $95.84 and a two-hundred day moving average of $87.24. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 EPS. On average, research 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 will be paid on Thursday, November 14th. Stockholders 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 3.66%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts have commented on the company. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

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.