ONEOK, Inc. $OKE Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 782,380 shares of the utilities provider’s stock after selling 43,955 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of ONEOK worth $70,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zions Bancorporation National Association UT increased its stake in shares of ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Elyxium Wealth LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $29,000. SRH Advisors LLC lifted its holdings in shares of ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of ONEOK in the first quarter valued at $33,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of NYSE:OKE opened at $90.03 on Thursday. The company’s fifty day moving average is $89.23 and its two-hundred day moving average is $86.43. The company has a market cap of $56.73 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 4.80 and a beta of 0.73. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business earned $1.04 EPS. Equities analysts expect that ONEOK, Inc. will post 5.65 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OKE shares. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial raised their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Jefferies Financial Group increased their price target on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Finally, Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and an average price target of $91.81.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.