Royal Bank of Canada Has $215.89 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Royal Bank of Canada trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,150,256 shares of the utilities provider's stock after selling 84,093 shares during the period. Royal Bank of Canada owned about 0.37% of ONEOK worth $215,887,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Norges Bank purchased a new position in ONEOK during the 4th quarter valued at $539,554,000. Wellington Management Group LLP lifted its stake in shares of ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after purchasing an additional 3,418,207 shares during the period. Price T Rowe Associates Inc. MD raised its position in ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after acquiring an additional 1,971,147 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ONEOK during the fourth quarter worth $182,694,000. Finally, ClearBridge Investments Ltd purchased a new stake in shares of ONEOK during the fourth quarter worth $177,045,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Scotiabank decreased their target price on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average price target of $104.69.

ONEOK Stock Down 1.3%

Shares of OKE stock traded down $1.06 during mid-day trading on Tuesday, hitting $83.67. The stock had a trading volume of 2,485,322 shares, compared to its average volume of 3,267,472. The firm's 50-day moving average is $88.23 and its two-hundred day moving average is $97.55. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The firm has a market capitalization of $52.26 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last released 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. 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 fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

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.