ONEOK, Inc. (NYSE:OKE) Stock Position Trimmed by M&T Bank Corp

M&T Bank Corp cut its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,193 shares of the utilities provider's stock after selling 4,363 shares during the quarter. M&T Bank Corp's holdings in ONEOK were worth $14,802,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of ONEOK during the 4th quarter worth about $258,000. Assetmark Inc. raised its position in shares of ONEOK by 43.2% during the 4th quarter. Assetmark Inc. now owns 1,806 shares of the utilities provider's stock worth $181,000 after buying an additional 545 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of ONEOK during the 4th quarter worth about $51,000. Finally, Daiwa Securities Group Inc. raised its position in shares of ONEOK by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 85,970 shares of the utilities provider's stock worth $8,632,000 after buying an additional 1,062 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus dropped their price target on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Scotiabank dropped their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. Finally, TD Cowen initiated coverage on shares of ONEOK in a research report on Monday. They set a "hold" rating and a $91.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.14.

ONEOK Stock Up 1.8%

NYSE OKE opened at $81.62 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The company's 50 day simple moving average is $81.99 and its 200 day simple moving average is $91.25. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market capitalization of $51.38 billion, a P/E ratio of 15.94, a PEG ratio of 1.57 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period last year, the business earned $1.09 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

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.

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