MML Investors Services LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

MML Investors Services LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 18.7% during the third quarter, HoldingsChannel.com reports. The fund owned 25,443 shares of the utilities provider’s stock after purchasing an additional 4,008 shares during the quarter. MML Investors Services LLC’s holdings in ONEOK were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of OKE. International Assets Investment Management LLC grew its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK in the 3rd quarter valued at $47,957,000. Bahl & Gaynor Inc. increased its stake in ONEOK by 3,648.4% in the 2nd 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 period. Finally, Yaupon Capital Management LP purchased a new position in ONEOK during the 3rd quarter worth $45,194,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank boosted their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Stock Performance

NYSE:OKE opened at $104.03 on Monday. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a market capitalization of $60.77 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 5.26 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $103.54 and a two-hundred day moving average price of $91.93.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. As a group, research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.81%. ONEOK’s dividend payout ratio is currently 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.