ONEOK, Inc. (NYSE:OKE) Position Decreased by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 658,804 shares of the utilities provider’s stock after selling 8,742 shares during the period. ONEOK accounts for 6.1% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Recurrent Investment Advisors LLC’s holdings in ONEOK were worth $66,144,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC lifted its holdings in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the period. Simon Quick Advisors LLC purchased a new position in ONEOK during the fourth quarter worth approximately $251,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of ONEOK during the 4th quarter valued at $9,483,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of ONEOK during the 4th quarter worth $19,909,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Citigroup lowered their target price on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Price Performance

Shares of NYSE:OKE opened at $86.31 on Thursday. The stock has a market cap of $53.91 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The stock’s 50 day moving average price is $88.84 and its 200 day moving average price is $97.83.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the company earned $1.09 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 4.77%. ONEOK’s dividend payout ratio is currently 80.47%.

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.