Canada Pension Plan Investment Board Buys 14,505 Shares of ONEOK, Inc. (NYSE:OKE)

Canada Pension Plan Investment Board grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 37.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,591 shares of the utilities provider’s stock after acquiring an additional 14,505 shares during the period. Canada Pension Plan Investment Board’s holdings in ONEOK were worth $4,370,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in shares of ONEOK in the first quarter valued at about $26,000. Quest Partners LLC purchased a new stake in ONEOK in the second quarter worth about $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the 2nd quarter worth about $31,000. Finally, American National Bank purchased a new position in ONEOK during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays upped their price target on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Truist Financial lifted their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Mizuho lifted their target price on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup increased their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.38.

ONEOK Price Performance

Shares of OKE opened at $94.69 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company’s fifty day moving average price is $87.65 and its 200-day moving average price is $82.74. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $96.05. The firm has a market capitalization of $55.31 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 return on equity of 15.54% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the company earned $1.04 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.