Meeder Asset Management Inc. Sells 33,177 Shares of ONEOK, Inc. (NYSE:OKE)

Meeder Asset Management Inc. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 83.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,551 shares of the utilities provider’s stock after selling 33,177 shares during the period. Meeder Asset Management Inc.’s holdings in ONEOK were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Norges Bank bought a new position in shares of ONEOK in the fourth quarter valued at approximately $297,948,000. Wellington Management Group LLP lifted its position in shares of ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. M&G Plc purchased a new position in ONEOK during the first quarter worth about $77,634,000. Kayne Anderson Capital Advisors LP grew its position in ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock worth $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in ONEOK by 36.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock valued at $145,782,000 after buying an additional 552,824 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Truist Financial lifted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their target price on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.92.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

ONEOK Stock Performance

NYSE:OKE opened at $91.37 on Friday. The stock has a market cap of $53.37 billion, a P/E ratio of 21.25, a PEG ratio of 4.47 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $86.12 and its two-hundred day moving average price is $81.77. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $93.00.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.33%. ONEOK’s dividend payout ratio is presently 92.09%.

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.