B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in ONEOK, Inc. (NYSE:OKE)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, Holdings Channel.com reports. The fund bought 109,384 shares of the utilities provider’s stock, valued at approximately $9,968,000.

A number of other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC raised its position in ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Bahl & Gaynor Inc. lifted its stake in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares in the last quarter. Cetera Investment Advisers boosted its holdings in ONEOK by 370.1% in the 1st quarter. Cetera Investment Advisers now owns 615,276 shares of the utilities provider’s stock worth $49,327,000 after buying an additional 484,403 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in ONEOK by 3,137.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 405,158 shares of the utilities provider’s stock worth $330,000 after buying an additional 392,644 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of ONEOK by 119.8% during the third quarter. Assenagon Asset Management S.A. now owns 588,801 shares of the utilities provider’s stock valued at $53,657,000 after acquiring an additional 320,967 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

ONEOK Stock Up 0.5 %

NYSE:OKE opened at $113.10 on Wednesday. ONEOK, Inc. has a 52 week low of $65.49 and a 52 week high of $113.23. The stock’s fifty day moving average is $97.38 and its two-hundred day moving average is $88.22. The stock has a market capitalization of $66.07 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 5.48 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for 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 period in the previous year, the company posted $0.99 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is currently 82.85%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Citigroup upped their price target on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.