Wellington Management Group LLP Buys 444,559 Shares of ONEOK, Inc. (NYSE:OKE)

Wellington Management Group LLP grew its stake in ONEOK, Inc. (NYSE:OKE) by 129.2% in the third quarter, HoldingsChannel reports. The fund owned 788,699 shares of the utilities provider’s stock after acquiring an additional 444,559 shares during the period. Wellington Management Group LLP’s holdings in ONEOK were worth $71,874,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of ONEOK in the second quarter worth about $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter worth about $29,000. Ridgewood Investments LLC bought a new position in shares of ONEOK in the second quarter worth about $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $44,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.7 %

ONEOK stock opened at $104.34 on Wednesday. The stock has a market capitalization of $60.95 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 5.49 and a beta of 1.69. ONEOK, Inc. has a twelve month low of $65.49 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average of $102.71 and a 200-day moving average of $91.26.

ONEOK (NYSE:OKE) last released its quarterly 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 during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the company earned $0.99 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Analysts Set New Price Targets

Several brokerages have recently commented on OKE. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

ONEOK Company Profile

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.