Daiwa Securities Group Inc. Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Daiwa Securities Group Inc. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,908 shares of the utilities provider’s stock after acquiring an additional 7,280 shares during the period. Daiwa Securities Group Inc.’s holdings in ONEOK were worth $7,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. National Pension Service raised its stake in shares of ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. grew its position in shares of ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Caxton Associates LP bought a new position in shares of ONEOK during the 2nd quarter valued at approximately $1,225,000. Point72 Europe London LLP purchased a new position in shares of ONEOK in the second quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in ONEOK by 11.1% during 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 purchasing an additional 5,451 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research reports. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Down 4.8 %

Shares of ONEOK stock opened at $111.46 on Tuesday. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm’s 50 day moving average price is $99.23 and its 200-day moving average price is $89.22. 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 market cap of $65.11 billion, a P/E ratio of 23.32, a PEG ratio of 5.84 and a beta of 1.66.

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 the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction 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 is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.