Sienna Gestion Sells 3,448 Shares of ONEOK, Inc. $OKE

Key Points

• Sienna Gestion has reduced its stake in ONEOK, Inc. by 6.1%, totaling 52,849 shares valued at approximately $5.1 million, according to a recent 13F filing.
• Wall Street analysts have set a consensus target price of $104.14 for ONEOK, with a majority rating it as a "Moderate Buy."
• ONEOK has announced a quarterly dividend of $1.03, yielding 5.5%, with a payout ratio of 80.31% for the quarter.

Sienna Gestion decreased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,849 shares of the utilities provider's stock after selling 3,448 shares during the period. Sienna Gestion's holdings in ONEOK were worth $5,097,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OKE. Greenline Partners LLC purchased a new position in ONEOK in the fourth quarter worth about $32,000. First Pacific Financial purchased a new position in ONEOK in the first quarter worth about $34,000. Vermillion Wealth Management Inc. purchased a new position in ONEOK in the fourth quarter worth about $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the fourth quarter worth about $39,000. Finally, Financial Network Wealth Advisors LLC raised its holdings in shares of ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 1.2%

Shares of OKE traded down $0.89 during midday trading on Monday, hitting $73.04. The stock had a trading volume of 2,516,760 shares, compared to its average volume of 3,965,111. ONEOK, Inc. has a 1 year low of $72.75 and a 1 year high of $118.07. The firm has a market cap of $46.00 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. 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 stock's 50 day moving average is $80.20 and its 200 day moving average is $86.46.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The company 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 quarter last year, the firm posted $1.33 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stifel Nicolaus reduced their target price 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. Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a "sector outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Barclays set a $83.00 price target on shares of ONEOK in a research report on Thursday. Finally, Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.57.

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.