ING Groep NV Trims Stake in ONEOK, Inc. (NYSE:OKE)

ING Groep NV lessened its stake in ONEOK, Inc. (NYSE:OKE) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 524,121 shares of the utilities provider’s stock after selling 134,423 shares during the period. ING Groep NV owned about 0.09% of ONEOK worth $47,763,000 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 OKE. Quest Partners LLC purchased a new stake in ONEOK during the second quarter worth $28,000. Matrix Trust Co acquired a new position in shares of ONEOK in the third quarter worth about $29,000. Ridgewood Investments LLC purchased a new stake in shares of ONEOK during the 2nd quarter worth about $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE traded down $0.28 during midday trading on Thursday, hitting $107.89. The company had a trading volume of 803,032 shares, compared to its average volume of 2,754,536. ONEOK, Inc. has a twelve month low of $64.68 and a twelve month high of $109.21. The stock has a market cap of $63.03 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 5.38 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50-day simple moving average is $95.84 and its 200-day simple moving average is $87.24.

ONEOK (NYSE:OKE) last issued its earnings results 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 return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. On average, research analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.67%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays increased their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their target price 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. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.