Sumitomo Mitsui Trust Group Inc. Buys 26,420 Shares of ONEOK, Inc. (NYSE:OKE)

Sumitomo Mitsui Trust Group Inc. grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,408,137 shares of the utilities provider's stock after purchasing an additional 26,420 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of ONEOK worth $128,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Matrix Trust Co acquired a new position in shares of ONEOK during the third quarter worth approximately $29,000. Quest Partners LLC acquired a new stake in ONEOK in the second quarter worth about $28,000. Ridgewood Investments LLC bought a new stake in ONEOK during the 2nd quarter worth about $31,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the firm's 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 document filed with the SEC, which is available through this link. Company insiders own 0.20% of the company's stock.

ONEOK Stock Performance

OKE stock traded down $0.78 during trading hours on Thursday, reaching $107.39. The stock had a trading volume of 1,247,911 shares, compared to its average volume of 2,756,706. The stock has a market capitalization of $62.74 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 5.38 and a beta of 1.66. The stock has a 50-day simple moving average of $95.84 and a 200 day simple moving average of $87.24. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $109.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released 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 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 business earned $0.99 earnings per share. Analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Friday, November 1st. ONEOK's dividend payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Tudor Pickering upgraded shares of ONEOK to a "hold" rating in a report on Thursday, July 18th. Citigroup lifted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 30th. Finally, Morgan Stanley raised ONEOK from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight equities research 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.92.

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.