Quadrature Capital Ltd Sells 32,732 Shares of ONEOK, Inc. (NYSE:OKE)

Quadrature Capital Ltd reduced its position in ONEOK, Inc. (NYSE:OKE) by 35.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,869 shares of the utilities provider’s stock after selling 32,732 shares during the period. Quadrature Capital Ltd’s holdings in ONEOK were worth $4,799,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its position in shares of ONEOK by 0.4% during the first quarter. Gamco Investors INC. ET AL now owns 175,950 shares of the utilities provider’s stock valued at $14,106,000 after purchasing an additional 700 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of ONEOK by 1.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,101,744 shares of the utilities provider’s stock worth $168,497,000 after buying an additional 25,666 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of ONEOK by 2.1% in the 1st quarter. Toronto Dominion Bank now owns 345,560 shares of the utilities provider’s stock worth $27,704,000 after buying an additional 6,948 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of ONEOK by 1.2% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 116,962 shares of the utilities provider’s stock valued at $9,377,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Rodgers Brothers Inc. increased its position in shares of ONEOK by 9.2% during the first quarter. Rodgers Brothers Inc. now owns 78,450 shares of the utilities provider’s stock valued at $6,289,000 after acquiring an additional 6,625 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKE shares. Morgan Stanley upped their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Wells Fargo & Company lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho lifted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $84.83.

ONEOK Price Performance

NYSE:OKE traded up $0.62 during mid-day trading on Friday, hitting $82.02. 1,826,761 shares of the stock traded hands, compared to its average volume of 2,137,539. The business’s 50-day moving average price is $81.39 and its 200 day moving average price is $77.65. The company has a market cap of $47.87 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 4.31 and a beta of 1.65. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $86.20. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business posted $2.34 earnings per share. On average, analysts expect that ONEOK, Inc. will post 5.01 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.83%. ONEOK’s payout ratio is presently 92.09%.

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.