Sumitomo Mitsui Trust Holdings Inc. Has $112.33 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in ONEOK, Inc. (NYSE:OKE) by 0.1% in the 1st quarter, HoldingsChannel reports. The fund owned 1,401,201 shares of the utilities provider’s stock after buying an additional 1,410 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in ONEOK were worth $112,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in ONEOK in the 1st quarter valued at about $25,000. American National Bank acquired a new stake in ONEOK in the 1st quarter valued at about $32,000. Beacon Capital Management LLC boosted its stake in shares of ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of ONEOK in the 4th quarter valued at about $32,000. Finally, Security National Bank bought a new position in shares of ONEOK in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $82.82 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The company has a market capitalization of $48.34 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 4.41 and a beta of 1.65. The company’s 50 day moving average price is $80.23 and its two-hundred day moving average price is $76.07. ONEOK, Inc. has a 52 week low of $60.52 and a 52 week high of $83.31.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the company posted $2.34 EPS. On average, analysts expect that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.78%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Truist Financial raised their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK 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.