Intech Investment Management LLC Has $12.46 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Intech Investment Management LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 189.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,833 shares of the utilities provider’s stock after purchasing an additional 100,073 shares during the period. Intech Investment Management LLC’s holdings in ONEOK were worth $12,464,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OKE. Wellington Management Group LLP raised its position in ONEOK by 2,643.5% during the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares in the last quarter. M&G Plc acquired a new position in ONEOK during the first quarter valued at approximately $77,634,000. Kayne Anderson Capital Advisors LP raised its position in ONEOK by 28.7% during the first quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares in the last quarter. Westwood Holdings Group Inc. raised its position in ONEOK by 36.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,076,078 shares of the utilities provider’s stock valued at $145,782,000 after purchasing an additional 552,824 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock worth $41,995,000 after buying an additional 501,216 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKE has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Scotiabank upped their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $92.38.

ONEOK Stock Performance

Shares of OKE opened at $93.97 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $54.89 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The firm’s fifty day simple moving average is $87.24 and its two-hundred day simple moving average is $82.42. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $95.28.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

About ONEOK

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.