Royal Bank of Canada Sells 84,093 Shares of ONEOK, Inc. (NYSE:OKE)

Royal Bank of Canada reduced its position in ONEOK, Inc. (NYSE:OKE) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,150,256 shares of the utilities provider’s stock after selling 84,093 shares during the quarter. Royal Bank of Canada owned approximately 0.37% of ONEOK worth $215,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Astoria Portfolio Advisors LLC. increased its position in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC increased its position in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC increased its position in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Bill Few Associates Inc. increased its position in ONEOK by 3.9% in the fourth quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock worth $278,000 after buying an additional 105 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

ONEOK stock opened at $85.74 on Friday. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The business has a 50-day simple moving average of $88.59 and a 200 day simple moving average of $97.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 3.77 and a beta of 1.01.

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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, May 5th. ONEOK’s payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Citigroup reduced their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. 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 research report on Thursday, May 1st. Finally, Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $105.00.

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.