ONEOK, Inc. (NYSE:OKE) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 301,797 shares of the utilities provider’s stock after buying an additional 9,281 shares during the quarter. Royal London Asset Management Ltd.’s holdings in ONEOK were worth $27,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of OKE. National Pension Service raised its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its stake in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Caxton Associates LP acquired a new stake in ONEOK during the 2nd quarter worth about $1,225,000. Point72 Europe London LLP purchased a new stake in ONEOK during the second quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $108.94 on Friday. 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, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The company’s fifty day moving average is $102.06 and its 200-day moving average is $90.78. The firm has a market cap of $63.64 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 5.48 and a beta of 1.69.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Analyst Upgrades and Downgrades

OKE has been the subject of several research analyst reports. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank raised 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. 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 target on the stock. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Finally, Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

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.