M&G Plc Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

M&G PLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 907,575 shares of the utilities provider's stock after selling 14,296 shares during the period. M&G PLC owned approximately 0.16% of ONEOK worth $82,589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Centennial Wealth Advisory LLC increased its holdings in ONEOK by 3.3% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,312 shares of the utilities provider's stock worth $484,000 after buying an additional 171 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of ONEOK by 2.3% in the third quarter. Harvest Portfolios Group Inc. now owns 63,396 shares of the utilities provider's stock worth $5,777,000 after acquiring an additional 1,399 shares during the period. Callahan Advisors LLC raised its holdings in shares of ONEOK by 2.9% during the third quarter. Callahan Advisors LLC now owns 10,818 shares of the utilities provider's stock valued at $986,000 after purchasing an additional 301 shares during the last quarter. Catalina Capital Group LLC lifted its position in ONEOK by 5.7% during the third quarter. Catalina Capital Group LLC now owns 3,890 shares of the utilities provider's stock valued at $354,000 after purchasing an additional 210 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its holdings in ONEOK by 19.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 10,569 shares of the utilities provider's stock worth $963,000 after purchasing an additional 1,687 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $1.94 on Thursday, hitting $104.14. 3,414,927 shares of the company traded hands, compared to its average volume of 2,750,470. ONEOK, Inc. has a 52 week low of $63.33 and a 52 week high of $104.50. The business has a 50-day simple moving average of $94.29 and a 200 day simple moving average of $86.31. 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 stock has a market capitalization of $60.84 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 4.08 and a beta of 1.66.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly 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). The company had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm earned $0.99 EPS. Research analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK's dividend payout ratio is presently 82.85%.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, July 26th. 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. Morgan Stanley raised shares of ONEOK from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective on the stock. Finally, Tudor Pickering upgraded shares of ONEOK to a "hold" rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.92.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

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.