Mitsubishi UFJ Trust & Banking Corp Has $22.70 Million Position in ONEOK, Inc. (NYSE:OKE)

Mitsubishi UFJ Trust & Banking Corp increased its stake in ONEOK, Inc. (NYSE:OKEFree Report) by 29.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 357,869 shares of the utilities provider’s stock after purchasing an additional 80,375 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in ONEOK were worth $22,700,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OKE. Peoples Bank KS bought a new stake in shares of ONEOK in the 3rd quarter valued at $25,000. First Command Bank increased its stake in shares of ONEOK by 401.0% in the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 393 shares in the last quarter. Quent Capital LLC increased its stake in ONEOK by 97.7% during the 3rd quarter. Quent Capital LLC now owns 437 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 216 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in ONEOK during the 4th quarter valued at $29,000. Finally, Worth Asset Management LLC purchased a new position in ONEOK during the 1st quarter worth $30,000. Institutional investors own 68.87% of the company’s stock.

ONEOK Trading Up 0.1 %

Shares of OKE opened at $69.04 on Monday. The business’s 50-day moving average price is $69.47 and its 200-day moving average price is $67.17. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $72.51. The stock has a market cap of $40.22 billion, a PE ratio of 12.67, a P/E/G ratio of 1.91 and a beta of 1.64. The company has a quick ratio of 0.66, a current ratio of 0.97 and a debt-to-equity ratio of 1.32.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, January 29th. This is a boost from ONEOK’s previous quarterly dividend of $0.96. This represents a $3.96 annualized dividend and a dividend yield of 5.74%. ONEOK’s dividend payout ratio is currently 72.66%.

ONEOK declared that its board has authorized a stock buyback program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OKE shares. Raymond James boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Bank of America raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $83.00 in a report on Monday, December 4th. Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday. Truist Financial boosted their price target on shares of ONEOK from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $75.91.

View Our Latest Research Report on OKE

Insider Activity

In other news, Director Eduardo A. Rodriguez sold 800 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $70.29, for a total transaction of $56,232.00. Following the sale, the director now directly owns 25,154 shares in the company, valued at $1,768,074.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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