Lbp Am Sa Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

LBP AM SA reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,726 shares of the utilities provider's stock after selling 7,323 shares during the period. LBP AM SA's holdings in ONEOK were worth $18,825,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Greenline Partners LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at approximately $32,000. First Pacific Financial acquired a new position in ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the fourth quarter valued at approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at approximately $39,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.6%

Shares of NYSE OKE traded up $0.47 during mid-day trading on Friday, hitting $81.38. The company had a trading volume of 2,315,889 shares, compared to its average volume of 3,480,782. The company has a market capitalization of $51.23 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.55 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, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The business's 50-day simple moving average is $81.94 and its 200 day simple moving average is $90.82.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OKE shares. Morgan Stanley upped their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays decreased their price objective on ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.14.

ONEOK Company 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.