CIBC Asset Management Inc Purchases 6,746 Shares of ONEOK, Inc. (NYSE:OKE)

CIBC Asset Management Inc lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 100,069 shares of the utilities provider's stock after acquiring an additional 6,746 shares during the period. CIBC Asset Management Inc's holdings in ONEOK were worth $9,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its position in shares of ONEOK by 5.8% in the third quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider's stock valued at $762,000 after buying an additional 455 shares in the last quarter. Lifeworks Advisors LLC acquired a new stake in shares of ONEOK in the third quarter valued at approximately $353,000. Ferguson Wellman Capital Management Inc. boosted its stake in ONEOK by 3.1% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,356 shares of the utilities provider's stock worth $853,000 after buying an additional 279 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in ONEOK by 4.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,150 shares of the utilities provider's stock valued at $1,654,000 after purchasing an additional 854 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in ONEOK by 41.5% during the third quarter. Metis Global Partners LLC now owns 76,873 shares of the utilities provider's stock worth $7,005,000 after acquiring an additional 22,534 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OKE shares. Scotiabank raised their price target on ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 30th. Mizuho raised ONEOK to a "hold" rating in a report on Thursday, November 7th. Truist Financial lifted their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They set a "buy" rating and a $105.00 price target for the company. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average price target of $100.38.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

ONEOK Price Performance

Shares of NYSE:OKE traded up $1.93 during trading on Friday, reaching $109.81. The company had a trading volume of 3,500,516 shares, compared to its average volume of 2,882,617. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $110.05. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $64.15 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The firm's fifty day moving average is $96.54 and its 200 day moving average is $87.64.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced 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 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK's dividend payout ratio is 82.85%.

ONEOK Company 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.