Public Sector Pension Investment Board Increases Holdings in ONEOK, Inc. (NYSE:OKE)

Public Sector Pension Investment Board raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,905 shares of the utilities provider’s stock after acquiring an additional 390 shares during the period. Public Sector Pension Investment Board’s holdings in ONEOK were worth $9,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of ONEOK in the second quarter worth approximately $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC purchased a new position in ONEOK during the 3rd quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $113.64 on Friday. ONEOK, Inc. has a 52-week low of $65.49 and a 52-week high of $118.07. The firm has a market capitalization of $66.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 5.69 and a beta of 1.66. 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 fifty day simple moving average of $100.75 and a 200-day simple moving average of $90.01.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company earned $0.99 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their price target on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

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.