The Manufacturers Life Insurance Company Has $63.27 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

The Manufacturers Life Insurance Company cut its position in ONEOK, Inc. (NYSE:OKE) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 694,271 shares of the utilities provider’s stock after selling 96,877 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of ONEOK worth $63,269,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Cetera Investment Advisers lifted its position in ONEOK by 370.1% during the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after buying an additional 484,403 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 392,644 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial upped their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

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 shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Stock Down 0.8 %

Shares of NYSE:OKE opened at $112.59 on Thursday. The company has a 50 day moving average price of $99.98 and a two-hundred day moving average price of $89.62. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $65.77 billion, a PE ratio of 23.55, a PEG ratio of 5.56 and a beta of 1.66. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 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 the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

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

ONEOK Company 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.