ONEOK, Inc. $OKE Shares Bought by Amundi

Key Points

• Amundi increased its ONEOK stake by 17.7% in the first quarter, acquiring 625,172 additional shares and bringing its holdings to 4.15 million shares valued at approximately $375.5 million.
• Analyst sentiment remains mixed: seven analysts rate ONEOK a Buy and eleven rate it Hold, resulting in an average rating of Hold and a consensus price target of $91.81.
• ONEOK reported quarterly EPS of $1.23, below the $1.30 consensus estimate, while revenue exceeded expectations at $9.62 billion. The company also declared a quarterly dividend of $1.07 per share, equivalent to a 4.8% annualized yield.

Amundi grew its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,154,091 shares of the utilities provider's stock after acquiring an additional 625,172 shares during the period. Amundi owned about 0.66% of ONEOK worth $375,488,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT boosted its stake in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after buying an additional 143 shares in the last quarter. Portus Wealth Advisors LLC purchased a new position in ONEOK in the first quarter worth $33,000. Elyxium Wealth LLC purchased a new position in ONEOK in the fourth quarter worth $29,000. Wilkerson Advisory Group LLC lifted its holdings in ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 133 shares during the period. Finally, Cornerstone Financial Management LLC acquired a new stake in ONEOK in the fourth quarter valued at $29,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Raymond James Financial reiterated an "outperform" rating and issued a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Morgan Stanley reissued an "equal weight" rating and set a $103.00 price objective (down from $113.00) on shares of ONEOK in a report on Wednesday. Weiss Ratings upgraded shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $91.81.

ONEOK Trading Up 1.4%

NYSE:OKE opened at $90.03 on Thursday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The stock has a fifty day simple moving average of $89.23 and a 200-day simple moving average of $86.43. The company has a market capitalization of $56.73 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.80 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company posted $1.04 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 5.65 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is 76.29%.

ONEOK Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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