The Manufacturers Life Insurance Company Sells 96,877 Shares of ONEOK, Inc. (NYSE:OKE)

The Manufacturers Life Insurance Company decreased its position in ONEOK, Inc. (NYSE:OKE) by 12.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 694,271 shares of the utilities provider’s stock after selling 96,877 shares during the period. The Manufacturers Life Insurance Company’s holdings in ONEOK were worth $63,269,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in ONEOK by 5.4% during the third quarter. Bank of Montreal Can now owns 867,616 shares of the utilities provider’s stock worth $78,294,000 after purchasing an additional 44,293 shares during the last quarter. Truvestments Capital LLC bought a new stake in ONEOK during the 3rd quarter worth about $230,000. Brown Brothers Harriman & Co. lifted its position in ONEOK by 10.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,401 shares of the utilities provider’s stock worth $583,000 after buying an additional 603 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of ONEOK in the 3rd quarter valued at about $990,000. Finally, Daiwa Securities Group Inc. increased its position in shares of ONEOK by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 84,908 shares of the utilities provider’s stock valued at $7,737,000 after acquiring an additional 7,280 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.8 %

OKE stock opened at $112.59 on Thursday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 5.56 and a beta of 1.66. The business’s fifty day moving average price is $99.98 and its two-hundred day moving average price is $89.62.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OKE shares. Bank of America started coverage on 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 raised their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Finally, UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $100.38.

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.