Dai ichi Life Insurance Company Ltd Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Dai ichi Life Insurance Company Ltd cut its holdings in ONEOK, Inc. (NYSE:OKE) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,668 shares of the utilities provider’s stock after selling 9,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in ONEOK were worth $4,800,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in ONEOK by 3.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after purchasing an additional 232,043 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ONEOK by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares in the last quarter. International Assets Investment Management LLC boosted its position in 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 worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc boosted its position in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after purchasing an additional 277,514 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale 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 insiders.

ONEOK Stock Performance

ONEOK stock opened at $113.45 on Wednesday. The firm has a market capitalization of $66.28 billion, a P/E ratio of 23.73, a PEG ratio of 5.56 and a beta of 1.66. 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 fifty day moving average price of $99.60 and a 200 day moving average price of $89.46. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly 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 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 prior year, the company earned $0.99 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.49%. ONEOK’s dividend payout ratio is presently 82.85%.

Analyst Ratings Changes

A number of analysts have commented on OKE shares. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Citigroup boosted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $100.38.

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.