Y Intercept Hong Kong Ltd Cuts Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in ONEOK, Inc. by 93.8%, selling over 35,000 shares and leaving them with only 2,379 shares valued at $236,000.
• ONEOK reported quarterly earnings of $1.04 EPS, missing analyst expectations of $1.28, with a revenue of $6.49 billion against forecasted $8.23 billion.
• The company announced a quarterly dividend of $1.03 per share, representing an annualized yield of 5.01%, set to be paid on August 14th.

Y Intercept Hong Kong Ltd reduced its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 93.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,379 shares of the utilities provider's stock after selling 35,870 shares during the period. Y Intercept Hong Kong Ltd's holdings in ONEOK were worth $236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Brighton Jones LLC grew its position in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Schroder Investment Management Group grew its position in shares of ONEOK by 3.5% during the fourth quarter. Schroder Investment Management Group now owns 117,842 shares of the utilities provider's stock worth $11,876,000 after buying an additional 3,947 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of ONEOK by 19.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 71,355 shares of the utilities provider's stock worth $7,164,000 after buying an additional 11,506 shares in the last quarter. Franklin Resources Inc. grew its position in shares of ONEOK by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 225,780 shares of the utilities provider's stock worth $22,668,000 after buying an additional 5,626 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of ONEOK by 46.1% during the fourth quarter. National Bank of Canada FI now owns 1,019,656 shares of the utilities provider's stock worth $102,420,000 after buying an additional 321,671 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded down $3.09 during mid-day trading on Friday, hitting $79.02. 3,671,180 shares of the company were exchanged, compared to its average volume of 3,090,261. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a 50 day simple moving average of $81.42 and a 200-day simple moving average of $88.77. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The firm has a market cap of $49.75 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly 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). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.2%. ONEOK's dividend payout ratio (DPR) is currently 80.47%.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Stifel Nicolaus lowered their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Raymond James Financial reissued an "outperform" rating on shares of ONEOK in a research report on Friday. TD Cowen started coverage on ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Finally, Barclays lowered 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. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $104.57.

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.