BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $6.55 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in ONEOK, Inc. (NYSE:OKE) by 10.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 71,918 shares of the utilities provider’s stock after purchasing an additional 6,713 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in ONEOK were worth $6,554,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of ONEOK in the third quarter valued at approximately $29,000. Quest Partners LLC acquired a new position in ONEOK in the second quarter worth $28,000. Ridgewood Investments LLC bought a new stake in shares of ONEOK during the second quarter worth $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the third quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter valued at about $44,000. 69.13% of the stock is owned by institutional investors.

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

ONEOK Stock Performance

Shares of OKE stock opened at $117.05 on Monday. The stock has a 50-day moving average of $98.87 and a 200-day moving average of $89.00. ONEOK, Inc. has a one year low of $65.49 and a one year high of $118.07. The stock has a market cap of $68.38 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 5.82 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 announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.38%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Analysts Set New Price Targets

Several research firms have weighed in on OKE. Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently 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.