ONEOK, Inc. (NYSE:OKE) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 29.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,869 shares of the utilities provider’s stock after acquiring an additional 80,375 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of ONEOK worth $22,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OKE. Peoples Bank KS acquired a new stake in ONEOK during the 3rd quarter worth approximately $25,000. Quent Capital LLC increased its position in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $29,000. Worth Asset Management LLC acquired a new stake in ONEOK in the first quarter valued at approximately $30,000. Finally, Quarry LP acquired a new stake in ONEOK in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OKE shares. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of ONEOK from $69.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, November 16th. Truist Financial increased their price objective on shares of ONEOK from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Raymond James increased their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Bank of America upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the company from $72.00 to $83.00 in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.91.

Check Out Our Latest Analysis on ONEOK

ONEOK Stock Performance

Shares of OKE opened at $69.04 on Monday. The business’s fifty day moving average price is $69.47 and its 200 day moving average price is $67.17. ONEOK, Inc. has a 12-month low of $55.91 and a 12-month high of $72.51. The stock has a market capitalization of $40.22 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.97 and a quick ratio of 0.66.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.74%. This is a boost from ONEOK’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 29th. ONEOK’s dividend payout ratio (DPR) is presently 72.66%.

ONEOK declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Eduardo A. Rodriguez sold 800 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $70.29, for a total value of $56,232.00. Following the sale, the director now directly owns 25,154 shares in the company, valued at $1,768,074.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

About ONEOK

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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