ONEOK, Inc. $OKE Stake Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in ONEOK, Inc. (NYSE:OKE) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 782,380 shares of the utilities provider’s stock after selling 43,955 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ONEOK were worth $70,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. State Street Corp raised its stake in shares of ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock valued at $1,663,637,000 after buying an additional 599,248 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after buying an additional 518,746 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.4%

NYSE:OKE opened at $90.03 on Thursday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The firm has a market cap of $56.73 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 4.80 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $89.23 and its 200-day moving average is $86.43.

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

ONEOK Announces Dividend

The company also recently announced 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 of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s payout ratio is currently 76.29%.

Analyst Ratings Changes

A number of analysts have issued reports on OKE shares. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Truist Financial raised their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $103.00 price objective (down from $113.00) on shares of ONEOK in a report on Wednesday. Finally, Raymond James Financial reissued an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.81.

ONEOK Company Profile

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.