ONEOK, Inc. (NYSE:OKE) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its position in ONEOK, Inc. (NYSE:OKE) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,346 shares of the utilities provider’s stock after purchasing an additional 336 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ONEOK were worth $1,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. grew its position in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in ONEOK by 12.3% during the first quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock worth $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Energy Income Partners LLC boosted its holdings in ONEOK by 10.3% in the first quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock worth $275,362,000 after purchasing an additional 319,487 shares during the period. Dimensional Fund Advisors LP increased its stake in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $107.81 on Wednesday. ONEOK, Inc. has a 52-week low of $63.77 and a 52-week high of $109.21. The firm has a market capitalization of $62.98 billion, a PE ratio of 22.55, a P/E/G ratio of 5.44 and a beta of 1.66. The firm has a 50-day moving average price of $95.19 and a 200 day moving average price of $86.90. 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 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates 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 business earned $0.99 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated 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 available through the SEC website. Insiders own 0.20% of the company’s stock.

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.