Mizuho Securities USA LLC Sells 7,125 Shares of ONEOK, Inc. (NYSE:OKE)

Mizuho Securities USA LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,874 shares of the utilities provider’s stock after selling 7,125 shares during the period. Mizuho Securities USA LLC’s holdings in ONEOK were worth $3,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after acquiring an additional 501,216 shares during the period. Cetera Investment Advisers lifted its position in ONEOK by 370.1% during the first quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after acquiring an additional 484,403 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of ONEOK by 3,137.6% during the second quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 392,644 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of ONEOK by 119.8% in the third quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after purchasing an additional 320,967 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several research reports. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Truist Financial boosted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Scotiabank boosted their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Barclays raised their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Price Performance

ONEOK stock opened at $117.04 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07. The stock has a market capitalization of $68.37 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 5.82 and a beta of 1.66. The stock has a fifty day moving average of $98.87 and a 200-day moving average of $88.86.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $5.81 billion. During the same period in the previous year, the firm posted $0.99 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.38%. ONEOK’s dividend payout ratio is currently 82.85%.

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.