State Street Corp Cuts Stake in ONEOK, Inc. (NYSE:OKE)

State Street Corp decreased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,063,519 shares of the utilities provider's stock after selling 353,180 shares during the period. State Street Corp owned about 6.69% of ONEOK worth $3,559,858,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK in the third quarter valued at approximately $29,000. Ridgewood Investments LLC purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $31,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $37,000. Finally, Values First Advisors Inc. purchased a new stake in ONEOK in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 1.1 %

Shares of OKE stock traded down $1.19 on Friday, reaching $108.94. 2,159,966 shares of the stock were exchanged, compared to its average volume of 2,808,672. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $118.07. The stock has a market cap of $63.64 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 5.59 and a beta of 1.69. 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 firm has a 50 day moving average of $102.06 and a two-hundred day moving average of $90.78.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the business earned $0.99 earnings per share. On average, research analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.64%. ONEOK's dividend payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price target for the company. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 30th. US Capital Advisors upgraded shares of ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Finally, Mizuho raised shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.00.

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.