Quantinno Capital Management LP Buys 11,898 Shares of ONEOK, Inc. (NYSE:OKE)

Quantinno Capital Management LP lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 27.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,500 shares of the utilities provider's stock after buying an additional 11,898 shares during the period. Quantinno Capital Management LP's holdings in ONEOK were worth $4,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new position in ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new position in ONEOK during the second quarter worth $31,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new stake in ONEOK in the third quarter valued at $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock traded down $1.12 during mid-day trading on Friday, hitting $109.00. The stock had a trading volume of 2,160,043 shares, compared to its average volume of 3,390,932. The firm has a fifty day simple moving average of $102.43 and a 200 day simple moving average of $91.02. The firm has a market capitalization of $63.68 billion, a P/E ratio of 22.80, a P/E/G ratio of 5.48 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. As a group, research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, November 1st. ONEOK's dividend payout ratio (DPR) is presently 82.85%.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Citigroup upped their price objective on ONEOK from $85.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their price objective 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. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $101.00.

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.