Hsbc Holdings PLC cut its stake in ONEOK, Inc. (NYSE:OKE – Free Report) by 4.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,070,018 shares of the utilities provider’s stock after selling 44,704 shares during the period. Hsbc Holdings PLC’s holdings in ONEOK were worth $78,648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of OKE. Capital International Investors purchased a new position in ONEOK during the fourth quarter worth approximately $586,500,000. Norges Bank purchased a new stake in shares of ONEOK during the 4th quarter valued at $564,867,000. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Danske Bank A S increased its holdings in shares of ONEOK by 3,538.4% during the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after buying an additional 1,644,945 shares during the last quarter. Finally, Man Group plc raised its position in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after buying an additional 1,161,352 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.
ONEOK Stock Up 1.3%
Shares of NYSE OKE opened at $86.13 on Tuesday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market cap of $54.26 billion, a P/E ratio of 15.35, a P/E/G ratio of 6.36 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $88.05 and a 200 day moving average price of $83.24.
ONEOK Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s dividend payout ratio is 76.29%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Barclays upped their price target on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Truist Financial lifted their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Finally, Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $91.88.
Read Our Latest Analysis on ONEOK
ONEOK Company Profile
ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.
ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.
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