The Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Oneok Inc. (OKE)

The Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Oneok Inc. (OKE)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Oneok Inc. (NYSE:OKE) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,910 shares of the company’s stock after selling 1,872 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Oneok worth $30,264,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Washington Trust Bank raised its stake in shares of Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock worth $103,000 after buying an additional 11 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Oneok by 1.0% in the second quarter. Van ECK Associates Corp now owns 3,207 shares of the company’s stock worth $152,000 after buying an additional 33 shares in the last quarter. Wright Investors Service Inc. raised its stake in shares of Oneok by 0.6% in the third quarter. Wright Investors Service Inc. now owns 6,808 shares of the company’s stock worth $350,000 after buying an additional 39 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Oneok by 1.0% in the third quarter. Prospera Financial Services Inc now owns 4,777 shares of the company’s stock worth $246,000 after buying an additional 48 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Oneok by 0.5% in the second quarter. Johnson Investment Counsel Inc. now owns 15,090 shares of the company’s stock worth $716,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Oneok Inc. (NYSE:OKE) opened at 56.56 on Thursday. Oneok Inc. has a 1-year low of $18.88 and a 1-year high of $59.47. The company’s 50-day moving average price is $57.32 and its 200-day moving average price is $50.49. The firm has a market capitalization of $11.91 billion, a P/E ratio of 41.77 and a beta of 1.14.

Oneok (NYSE:OKE) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Oneok had a return on equity of 9.99% and a net margin of 3.50%. During the same period in the previous year, the company posted $0.39 earnings per share. Equities research analysts expect that Oneok Inc. will post $1.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 30th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.35%. Oneok’s dividend payout ratio is currently 182.22%.

A number of research firms have commented on OKE. Jefferies Group reiterated a “hold” rating and issued a $46.00 price target on shares of Oneok in a research report on Sunday, October 16th. Barclays PLC lowered Oneok from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $58.00 in a research report on Tuesday, December 13th. RBC Capital Markets reiterated a “hold” rating and issued a $58.00 price target on shares of Oneok in a research report on Friday, January 6th. Zacks Investment Research lowered Oneok from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 3rd. Finally, Deutsche Bank AG upgraded Oneok from a “sell” rating to a “hold” rating and upped their price target for the company from $49.00 to $52.00 in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.08.

About Oneok

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.

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