National Bank of Canada FI Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

Key Points

• National Bank of Canada FI has reduced its holdings in ONEOK, Inc. by 7.8%, now owning approximately 0.15% of the company, worth $93.23 million.
• ONEOK reported earnings of $1.34 per share for its last quarter, exceeding analyst estimates of $1.33, with revenues reaching $8.21 billion.
• The company recently declared a quarterly dividend of $1.03 per share, which represents an annual yield of 5.5%.

National Bank of Canada FI decreased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 939,695 shares of the utilities provider's stock after selling 79,961 shares during the period. National Bank of Canada FI owned approximately 0.15% of ONEOK worth $93,230,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ONEOK by 7.2% during the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. 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 acquiring an additional 2,542,449 shares during the last quarter. 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 acquiring an additional 864,392 shares during the last quarter. 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 acquiring an additional 1,788,433 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ONEOK by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock valued at $469,038,000 after acquiring an additional 117,901 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OKE. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of ONEOK from $100.00 to $94.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Stifel Nicolaus lowered their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Barclays lowered their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Six research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.57.

ONEOK Trading Down 1.3%

Shares of NYSE:OKE traded down $0.95 during trading on Friday, reaching $74.53. 3,159,225 shares of the company were exchanged, compared to its average volume of 3,661,766. The firm has a market capitalization of $46.94 billion, a PE ratio of 14.53, a P/E/G ratio of 1.76 and a beta of 0.99. The business's fifty day simple moving average is $80.95 and its 200-day simple moving average is $87.39. ONEOK, Inc. has a 12-month low of $74.23 and a 12-month 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.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period last year, the company posted $1.33 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.5%. ONEOK's dividend payout ratio (DPR) is 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.