Raiffeisen Bank International AG Has $1.13 Million Stake in ONEOK, Inc. (NYSE:OKE)

Key Points

• Raiffeisen Bank International AG reduced its stake in ONEOK, Inc. by 29.6% in the first quarter, holding approximately $1.13 million worth of shares after selling 4,790 shares.
• Eleven hedge funds, including Price T Rowe Associates and GAMMA Investing LLC, significantly increased their holdings in ONEOK during the most recent quarter.
• ONEOK announced a quarterly dividend of $1.03 per share, yielding 5.2%, with an ex-dividend date of August 1st.

Raiffeisen Bank International AG decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 29.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,419 shares of the utilities provider's stock after selling 4,790 shares during the period. Raiffeisen Bank International AG's holdings in ONEOK were worth $1,125,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OKE. Price T Rowe Associates Inc. MD grew its holdings in shares of ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after acquiring an additional 1,971,147 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ONEOK by 9,596.3% in the 1st quarter. GAMMA Investing LLC now owns 1,189,251 shares of the utilities provider's stock valued at $117,997,000 after acquiring an additional 1,176,986 shares in the last quarter. Northern Trust Corp grew 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 in the last quarter. California State Teachers Retirement System grew its holdings in ONEOK by 52.1% during the fourth quarter. California State Teachers Retirement System now owns 2,182,296 shares of the utilities provider's stock worth $219,103,000 after purchasing an additional 747,824 shares during the period. Finally, Marshall Wace LLP grew its holdings in ONEOK by 276.4% during the fourth quarter. Marshall Wace LLP now owns 971,913 shares of the utilities provider's stock worth $97,580,000 after purchasing an additional 713,685 shares during the period. Institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKE. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday. Wells Fargo & Company reduced their price target on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Barclays reduced their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, Stifel Nicolaus cut their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.57.

ONEOK Stock Up 1.1%

NYSE OKE opened at $79.85 on Tuesday. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The company has a market cap of $50.27 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.87 and a beta of 0.99. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The company has a 50 day moving average of $81.40 and a 200-day moving average of $88.30.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the previous year, the business earned $1.33 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is currently 80.47%.

About ONEOK

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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