Daiwa Securities Group Inc. Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Daiwa Securities Group Inc. raised its position in ONEOK, Inc. (NYSE:OKE) by 9.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 84,908 shares of the utilities provider’s stock after acquiring an additional 7,280 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ONEOK were worth $7,737,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new position in ONEOK in the 2nd quarter valued at $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK in the third quarter valued at about $29,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth about $31,000. Access Investment Management LLC acquired a new stake in ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

ONEOK Price Performance

Shares of OKE opened at $111.46 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm’s fifty day simple moving average is $99.23 and its 200-day simple moving average is $89.22. The firm has a market capitalization of $65.11 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 5.84 and a beta of 1.66. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the business posted $0.99 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.55%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

A number of equities analysts have commented on OKE shares. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Truist Financial lifted their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $100.38.

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.