Dai ichi Life Insurance Company Ltd Decreases Position in ONEOK, Inc. (NYSE:OKE)

Dai ichi Life Insurance Company Ltd decreased its stake in ONEOK, Inc. (NYSE:OKE) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,668 shares of the utilities provider’s stock after selling 9,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in ONEOK were worth $4,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of OKE. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at about $29,000. Quest Partners LLC purchased a new position in ONEOK in the second quarter valued at about $28,000. Ridgewood Investments LLC purchased a new position in ONEOK in the second quarter valued at about $31,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter valued at about $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $113.45 on Wednesday. The stock has a market cap of $66.28 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. The business has a fifty day simple moving average of $99.60 and a 200-day simple moving average of $89.46. 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.

ONEOK (NYSE:OKE) last issued 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). The business had revenue of $5.02 billion during 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 earned $0.99 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued 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 dividend yield of 3.49%. ONEOK’s dividend payout ratio is 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank increased their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus 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.