ONEOK, Inc. (NYSE:OKE) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,145 shares of the utilities provider’s stock after acquiring an additional 727 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ONEOK were worth $6,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of OKE. Wellington Management Group LLP lifted its stake in ONEOK by 2,643.5% in the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after buying an additional 1,128,066 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of ONEOK in the first quarter valued at $25,000. Park Avenue Securities LLC boosted its stake in shares of ONEOK by 13.1% during the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock valued at $600,000 after acquiring an additional 864 shares during the last quarter. RFG Advisory LLC increased its position in ONEOK by 34.3% during the 1st quarter. RFG Advisory LLC now owns 29,852 shares of the utilities provider’s stock worth $2,393,000 after purchasing an additional 7,626 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in ONEOK by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 48,103 shares of the utilities provider’s stock valued at $3,856,000 after purchasing an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OKE shares. Wells Fargo & Company lifted their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Bank of America assumed coverage on ONEOK in a report on Thursday. They set a “buy” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $94.77.

ONEOK Stock Up 0.8 %

Shares of ONEOK stock opened at $97.23 on Friday. The company has a fifty day moving average price of $91.79 and a 200 day moving average price of $84.68. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. ONEOK, Inc. has a twelve month low of $63.33 and a twelve month high of $98.01. The stock has a market cap of $56.79 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter last year, the firm earned $1.04 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. ONEOK’s payout ratio is currently 86.27%.

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.