Commerzbank Aktiengesellschaft FI Trims Position in ONEOK, Inc. (NYSE:OKE)

Commerzbank Aktiengesellschaft FI trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,921 shares of the utilities provider's stock after selling 3,423 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in ONEOK were worth $1,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $32,000. First Pacific Financial purchased a new position in ONEOK in the first quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the 4th quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the 4th quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK in the 1st quarter valued at about $39,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on OKE shares. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. boosted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $103.07.

ONEOK Trading Up 2.7%

Shares of NYSE:OKE traded up $2.18 during mid-day trading on Friday, reaching $83.42. 4,553,712 shares of the company were exchanged, compared to its average volume of 3,492,203. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The firm's 50-day simple moving average is $81.97 and its 200 day simple moving average is $90.14. The firm has a market cap of $52.52 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter last year, the business earned $1.09 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 4.94%. ONEOK's dividend payout ratio is currently 80.47%.

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.