MetLife Investment Management LLC Sells 3,809 Shares of ONEOK, Inc. (NYSE:OKE)

MetLife Investment Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,298 shares of the utilities provider’s stock after selling 3,809 shares during the quarter. MetLife Investment Management LLC’s holdings in ONEOK were worth $13,879,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Matrix Trust Co bought a new stake in shares of ONEOK during the third quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of ONEOK in the second quarter worth $28,000. Ridgewood Investments LLC bought a new position in shares of ONEOK during the second quarter valued at $31,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the third quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK in the 3rd quarter worth about $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

ONEOK Price Performance

NYSE:OKE opened at $112.59 on Thursday. The business’s 50-day simple moving average is $99.98 and its two-hundred day simple moving average is $89.62. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The stock has a market cap of $65.77 billion, a PE ratio of 23.55, a P/E/G ratio of 5.56 and a beta of 1.66. 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 issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) 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 business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business posted $0.99 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Citigroup increased their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.