Sagefield Capital LP Has $4.76 Million Stake in ONEOK, Inc. (NYSE:OKE)

Sagefield Capital LP lowered its stake in ONEOK, Inc. (NYSE:OKE) by 62.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,413 shares of the utilities provider’s stock after selling 77,922 shares during the period. Sagefield Capital LP’s holdings in ONEOK were worth $4,760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after purchasing an additional 262,486 shares in the last quarter. Kathmere Capital Management LLC increased its stake in ONEOK by 4.0% in the 4th quarter. Kathmere Capital Management LLC now owns 3,941 shares of the utilities provider’s stock valued at $396,000 after buying an additional 153 shares during the last quarter. Park Avenue Securities LLC increased its stake in ONEOK by 10.3% in the 4th quarter. Park Avenue Securities LLC now owns 7,602 shares of the utilities provider’s stock valued at $763,000 after buying an additional 709 shares during the last quarter. Burney Co. increased its stake in ONEOK by 2.7% in the 4th quarter. Burney Co. now owns 6,615 shares of the utilities provider’s stock valued at $664,000 after buying an additional 173 shares during the last quarter. Finally, Essex Savings Bank acquired a new stake in ONEOK in the 4th quarter valued at $313,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Scotiabank decreased their price target on shares of ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus decreased their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Citigroup decreased their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of NYSE OKE opened at $85.74 on Friday. The firm’s 50-day moving average price is $88.59 and its 200-day moving average price is $97.69. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $53.55 billion, a PE ratio of 17.94, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business posted $1.09 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio is presently 80.47%.

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.