ONEOK, Inc. (NYSE:OKE) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,921 shares of the utilities provider’s stock after selling 3,839 shares during the period. M&T Bank Corp’s holdings in ONEOK were worth $13,299,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Matrix Trust Co acquired a new position in shares of ONEOK in the 3rd quarter valued at about $29,000. Quest Partners LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at about $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. acquired a new position in shares of ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.7 %

NYSE OKE opened at $104.34 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s 50 day simple moving average is $102.71 and its 200 day simple moving average is $91.26. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The company has a market capitalization of $60.95 billion, a P/E ratio of 21.83, a PEG ratio of 5.49 and a beta of 1.69.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is presently 82.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKE. Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $101.00.

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.