BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 14,058 Shares of ONEOK, Inc. (NYSE:OKE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 28.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,100 shares of the utilities provider’s stock after buying an additional 14,058 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in ONEOK were worth $5,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management raised its position in ONEOK by 0.3% during the first quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after purchasing an additional 139 shares during the period. Venturi Wealth Management LLC raised its position in ONEOK by 5.3% during the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 142 shares during the period. Massmutual Trust Co. FSB ADV raised its position in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 144 shares during the period. Presima Securities ULC raised its position in ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 150 shares during the period. Finally, FourThought Financial Partners LLC raised its position in ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 161 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.80 on Friday, hitting $84.24. The company’s stock had a trading volume of 244,699 shares, compared to its average volume of 2,748,287. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $86.20. The firm has a fifty day moving average price of $81.23 and a 200-day moving average price of $77.11. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 4.57 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.70%. ONEOK’s dividend payout ratio is presently 92.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. Morgan Stanley increased their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price target on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Truist Financial increased their price target on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus increased their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.50.

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.