ONEOK, Inc. (NYSE:OKE) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in ONEOK, Inc. (NYSE:OKE) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,408,137 shares of the utilities provider’s stock after acquiring an additional 26,420 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ONEOK were worth $128,324,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OKE. Envestnet Portfolio Solutions Inc. grew its position in ONEOK by 21.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 844 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of ONEOK by 3.8% during the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after buying an additional 198 shares during the period. Entropy Technologies LP purchased a new stake in shares of ONEOK during the first quarter valued at $557,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of ONEOK by 28.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock valued at $5,059,000 after acquiring an additional 14,058 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in ONEOK by 17.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 683,665 shares of the utilities provider’s stock worth $54,809,000 after acquiring an additional 101,601 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $108.17 on Thursday. The firm’s fifty day simple moving average is $95.51 and its two-hundred day simple moving average is $87.09. ONEOK, Inc. has a 52-week low of $64.68 and a 52-week high of $109.21. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 5.38 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 posted its quarterly earnings data 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). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.66%. ONEOK’s payout ratio is presently 82.85%.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK 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.