Mizuho Securities USA LLC Sells 5,689 Shares of ONEOK, Inc. (NYSE:OKE)

Key Points

• Mizuho Securities USA LLC reduced its stake in ONEOK, Inc. by 10.3%, selling 5,689 shares and now holding 49,678 shares valued at approximately $4.93 million.
• Various institutional investors have adjusted their positions, with Benjamin Edwards Inc. increasing its holdings by 8.3% and Townsquare Capital LLC increasing by 2.5%.
• ONEOK recently declared a quarterly dividend of $1.03 per share, representing an annual yield of 5.5% with a payout ratio of 80.31%.

Mizuho Securities USA LLC lessened its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,678 shares of the utilities provider's stock after selling 5,689 shares during the quarter. Mizuho Securities USA LLC's holdings in ONEOK were worth $4,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its position in ONEOK by 8.3% during the first quarter. Benjamin Edwards Inc. now owns 246,098 shares of the utilities provider's stock valued at $24,418,000 after buying an additional 18,834 shares during the period. Donoghue Forlines LLC lifted its holdings in ONEOK by 4.6% in the first quarter. Donoghue Forlines LLC now owns 15,645 shares of the utilities provider's stock worth $1,552,000 after buying an additional 692 shares during the period. Zions Bancorporation National Association UT purchased a new stake in ONEOK in the first quarter worth about $82,000. Townsquare Capital LLC increased its stake in shares of ONEOK by 2.5% during the first quarter. Townsquare Capital LLC now owns 111,683 shares of the utilities provider's stock valued at $11,081,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its stake in shares of ONEOK by 2.9% during the first quarter. Founders Financial Alliance LLC now owns 9,228 shares of the utilities provider's stock valued at $916,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OKE shares. Citigroup decreased their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. Barclays dropped their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $104.57.

ONEOK Stock Performance

ONEOK stock opened at $74.53 on Friday. The company's 50-day moving average price is $80.95 and its 200-day moving average price is $87.52. ONEOK, Inc. has a twelve month low of $74.23 and a twelve month high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market cap of $46.94 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.33 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal 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 issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, August 1st. ONEOK's dividend payout ratio is presently 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.

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