M&T Bank Corp Sells 3,839 Shares of ONEOK, Inc. (NYSE:OKE)

M&T Bank Corp trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 2.6% in the third quarter, Holdings Channel reports. The firm owned 145,921 shares of the utilities provider’s stock after selling 3,839 shares during the quarter. M&T Bank Corp’s holdings in ONEOK were worth $13,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. International Assets Investment Management LLC increased its stake in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the third quarter valued at approximately $47,957,000. Bahl & Gaynor Inc. lifted its position in shares of ONEOK by 3,648.4% in the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of ONEOK during the 3rd quarter worth approximately $45,194,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 2.5 %

NYSE OKE opened at $100.08 on Friday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $58.47 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 5.24 and a beta of 1.69. The business’s 50-day moving average price is $104.05 and its two-hundred day moving average price is $92.55.

ONEOK (NYSE:OKE) last issued 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 return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $0.99 EPS. On average, analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.96%. ONEOK’s payout ratio is presently 82.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank raised their price target on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK 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.