BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 14,292 Shares of ONEOK, Inc. (NYSE:OKE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 97,393 shares of the utilities provider’s stock after selling 14,292 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ONEOK were worth $8,875,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ONEOK in the 3rd quarter worth about $47,957,000. Bahl & Gaynor Inc. increased its position in shares of ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after acquiring an additional 501,216 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of ONEOK by 3,137.6% during the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 392,644 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Truist Financial lifted their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $113.60 on Monday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The company has a market cap of $66.36 billion, a PE ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business has a 50-day simple moving average of $100.75 and a two-hundred day simple moving average of $90.13.

ONEOK (NYSE:OKE) last released 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 company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.49%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.