Daiwa Securities Group Inc. Cuts Position in ONEOK, Inc. (NYSE:OKE)

Daiwa Securities Group Inc. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,628 shares of the utilities provider’s stock after selling 6,151 shares during the period. Daiwa Securities Group Inc.’s holdings in ONEOK were worth $6,331,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. raised its holdings in shares of ONEOK by 7.3% during the 4th quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 1,124 shares in the last quarter. TD Asset Management Inc raised its stake in shares of ONEOK by 11.6% during the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock worth $14,610,000 after acquiring an additional 21,657 shares in the last quarter. Norden Group LLC lifted its holdings in shares of ONEOK by 4,460.2% in the 1st quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after acquiring an additional 131,441 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of ONEOK by 2,643.5% during the 4th quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock valued at $82,209,000 after purchasing an additional 1,128,066 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in ONEOK by 8.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 121,195 shares of the utilities provider’s stock worth $8,510,000 after purchasing an additional 9,722 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $90.24 on Thursday. The company has a 50-day simple moving average of $85.79 and a two-hundred day simple moving average of $81.58. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a market capitalization of $52.67 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 4.51 and a beta of 1.67. ONEOK, Inc. has a one year low of $60.58 and a one year high of $93.00.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the company posted $1.04 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.39%. ONEOK’s payout ratio is 92.09%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OKE shares. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Morgan Stanley raised their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Finally, Truist Financial upped their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.92.

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.