Deutsche Bank AG Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Deutsche Bank AG trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,322,960 shares of the utilities provider’s stock after selling 315,093 shares during the period. Deutsche Bank AG’s holdings in ONEOK were worth $936,025,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Kieckhefer Group LLC purchased a new position in ONEOK during the 4th quarter valued at $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter worth about $39,000. Canton Hathaway LLC purchased a new stake in ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $48,000. Finally, VSM Wealth Advisory LLC bought a new position in ONEOK in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Scotiabank lowered their price target on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Citigroup dropped their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of ONEOK stock opened at $80.22 on Thursday. The firm has a market capitalization of $50.11 billion, a P/E ratio of 16.78, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. 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 company has a 50 day moving average price of $89.62 and a 200 day moving average price of $98.26.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business posted $1.09 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK’s payout ratio is 80.47%.

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.