Sumitomo Mitsui Trust Group Inc. Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Sumitomo Mitsui Trust Group Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,408,137 shares of the utilities provider’s stock after purchasing an additional 26,420 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of ONEOK worth $128,324,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. HM Payson & Co. raised its position in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares in the last quarter. QRG Capital Management Inc. grew its position in ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock valued at $1,111,000 after buying an additional 122 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in ONEOK by 1.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after buying an additional 125 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.3 %

Shares of NYSE OKE opened at $108.17 on Thursday. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $109.21. The firm has a market cap of $63.19 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 5.38 and a beta of 1.66. The business has a fifty day simple moving average of $95.51 and a two-hundred day simple moving average of $87.09. 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 released 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). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Analysts Set New Price Targets

OKE has been the subject of a number of research reports. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note 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 report on Monday, November 4th. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Finally, Truist Financial upped 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

About ONEOK

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.