ONEOK, Inc. (NYSE:OKE) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its stake in ONEOK, Inc. (NYSE:OKE) by 8.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,380 shares of the utilities provider’s stock after selling 28,480 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of ONEOK worth $24,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of ONEOK in the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the first quarter worth about $26,000. HHM Wealth Advisors LLC acquired a new position in ONEOK in the 4th quarter valued at about $32,000. American National Bank purchased a new stake in shares of ONEOK in the 1st quarter valued at approximately $32,000. Finally, Security National Bank acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley increased their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. Stifel Nicolaus raised their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus target price of $84.50.

ONEOK Stock Up 0.0 %

OKE stock traded up $0.03 during mid-day trading on Friday, reaching $83.47. The company had a trading volume of 3,093,305 shares, compared to its average volume of 2,208,576. ONEOK, Inc. has a fifty-two week low of $60.58 and a fifty-two week high of $86.20. The company has a market capitalization of $48.72 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 4.42 and a beta of 1.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm has a fifty day simple moving average of $81.30 and a 200 day simple moving average of $77.25.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. Analysts forecast that ONEOK, Inc. will post 5.01 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, August 1st. ONEOK’s dividend payout ratio is presently 92.09%.

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.