CIBC Asset Management Inc Has $9.12 Million Position in ONEOK, Inc. (NYSE:OKE)

CIBC Asset Management Inc lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 100,069 shares of the utilities provider’s stock after buying an additional 6,746 shares during the quarter. CIBC Asset Management Inc’s holdings in ONEOK were worth $9,119,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its stake in shares of ONEOK by 5.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after buying an additional 455 shares during the last quarter. Lifeworks Advisors LLC acquired a new stake in ONEOK in the 3rd quarter worth about $353,000. Ferguson Wellman Capital Management Inc. raised its stake in ONEOK by 3.1% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,356 shares of the utilities provider’s stock worth $853,000 after purchasing an additional 279 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in ONEOK by 4.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,150 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 854 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in ONEOK by 41.5% in the 3rd quarter. Metis Global Partners LLC now owns 76,873 shares of the utilities provider’s stock valued at $7,005,000 after buying an additional 22,534 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $109.81 on Friday. The firm has a 50-day moving average of $96.54 and a 200-day moving average of $87.64. The company has a market cap of $64.15 billion, a P/E ratio of 22.97, a P/E/G ratio of 5.40 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $64.68 and a one year high of $110.05.

ONEOK (NYSE:OKE) last announced 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business 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 was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.61%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on OKE. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank upped their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial upped 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. Finally, Wells Fargo & Company upped their price target on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.