Citizens Financial Group Inc. RI Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Citizens Financial Group Inc. RI cut its holdings in ONEOK, Inc. (NYSE:OKE) by 48.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,186 shares of the utilities provider’s stock after selling 4,799 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ONEOK were worth $416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of ONEOK during the first quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the first quarter worth approximately $26,000. American National Bank purchased a new stake in shares of ONEOK during the first quarter worth approximately $32,000. HHM Wealth Advisors LLC purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $32,000. Finally, Manchester Capital Management LLC increased its position in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $80.17 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $46.79 billion, a PE ratio of 18.64, a P/E/G ratio of 4.37 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 business’s fifty day moving average price is $81.43 and its 200 day moving average price is $78.00.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the business earned $2.34 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.02 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

Analyst Ratings Changes

Several analysts recently commented on OKE shares. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Mizuho boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.00.

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.