OLD National Bancorp IN Reduces Position in ONEOK, Inc. (NYSE:OKE)

OLD National Bancorp IN decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 31.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,769 shares of the utilities provider’s stock after selling 1,290 shares during the period. OLD National Bancorp IN’s holdings in ONEOK were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Greenline Partners LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $32,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the fourth quarter valued at $39,000. Canton Hathaway LLC acquired a new position in ONEOK in the fourth quarter valued at $40,000. Finally, J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.7%

NYSE OKE opened at $81.69 on Wednesday. ONEOK, Inc. has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $51.43 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. The firm’s fifty day simple moving average is $82.88 and its 200-day simple moving average is $94.76.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business 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 period in the previous year, the company earned $1.09 earnings per share. As a group, sell-side analysts anticipate 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 issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Barclays reduced their target price on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Citigroup reduced their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Scotiabank cut their price objective on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Finally, Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.69.

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.