CIBC Asset Management Inc Buys 6,746 Shares of ONEOK, Inc. (NYSE:OKE)

CIBC Asset Management Inc raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 100,069 shares of the utilities provider’s stock after purchasing an additional 6,746 shares during the quarter. CIBC Asset Management Inc’s holdings in ONEOK were worth $9,119,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service increased its holdings in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its holdings in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Caxton Associates LP bought a new position in shares of ONEOK during the 2nd quarter worth about $1,225,000. Point72 Europe London LLP bought a new position in shares of ONEOK during the 2nd quarter worth about $15,008,000. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Eight investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Trading Up 1.8 %

Shares of NYSE OKE opened at $109.81 on Friday. The company’s 50 day simple moving average is $96.54 and its 200 day simple moving average is $87.64. ONEOK, Inc. has a fifty-two week low of $64.68 and a fifty-two week high of $110.05. The firm has a market capitalization of $64.15 billion, a P/E ratio of 22.97, a P/E/G ratio of 5.40 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.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business posted $0.99 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.