ONEOK, Inc. $OKE Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in ONEOK, Inc. by 22.5%, ending with 35,340 shares valued at approximately $3.5 million after selling over 10,000 shares in the first quarter.
• ONEOK's stock has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $104.14, despite varying adjustments to price targets by different institutions.
• The company announced a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 5.5%, with the payout ratio standing at 80.31%.

Gulf International Bank UK Ltd trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,340 shares of the utilities provider's stock after selling 10,239 shares during the quarter. Gulf International Bank UK Ltd's holdings in ONEOK were worth $3,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after buying an additional 5,076,705 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the period. Invesco Ltd. lifted its holdings in shares of ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after buying an additional 1,674,706 shares during the period. Northern Trust Corp lifted its holdings in shares of ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after buying an additional 864,392 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ONEOK by 43.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,904,119 shares of the utilities provider's stock valued at $585,807,000 after buying an additional 1,788,433 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada dropped their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, Barclays set a $83.00 price target on ONEOK in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.57.

ONEOK Trading Down 1.2%

OKE stock traded down $0.89 during trading on Monday, reaching $73.04. 2,516,745 shares of the stock traded hands, compared to its average volume of 3,965,107. The business's 50 day moving average price is $80.20 and its 200-day moving average price is $86.46. ONEOK, Inc. has a 52-week low of $72.75 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. The firm has a market capitalization of $46.00 billion, a PE ratio of 14.24, a P/E/G ratio of 1.75 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is currently 80.31%.

ONEOK Profile

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.