ONEOK, Inc. (NYSE:OKE) Shares Sold by State Street Corp

State Street Corp reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,063,519 shares of the utilities provider’s stock after selling 353,180 shares during the quarter. State Street Corp owned about 6.69% of ONEOK worth $3,559,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. National Pension Service grew its position in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of ONEOK in the second quarter valued at about $1,225,000. Point72 Europe London LLP purchased a new stake in shares of ONEOK in the second quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 5,451 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $110.12 on Friday. 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 stock has a market cap of $64.33 billion, a P/E ratio of 23.04, a PEG ratio of 5.59 and a beta of 1.69. The company has a 50-day moving average of $102.06 and a two-hundred day moving average of $90.78. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.99 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Announces Dividend

The company 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 3.60%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

ONEOK 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.