UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $357.39 Million Position in ONEOK, Inc. (NYSE:OKE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,921,784 shares of the utilities provider’s stock after purchasing an additional 7,768 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.67% of ONEOK worth $357,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth about $29,000. Quest Partners LLC bought a new position in ONEOK during the second quarter valued at about $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the second quarter valued at about $31,000. Access Investment Management LLC bought a new position in ONEOK during the third quarter valued at about $37,000. Finally, Values First Advisors Inc. bought a new position in ONEOK in the third quarter worth $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The stock was 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 SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Wells Fargo & Company raised their target price 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 increased their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Price Performance

Shares of OKE stock opened at $112.59 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The firm has a market cap of $65.77 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 5.69 and a beta of 1.66. The stock has a 50-day moving average price of $100.35 and a 200 day moving average price of $89.78.

ONEOK (NYSE:OKE) last issued its 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the business posted $0.99 EPS. Research analysts expect that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 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.