ONEOK, Inc. (NYSE:OKE) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 55.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,824 shares of the utilities provider’s stock after selling 3,499 shares during the period. Principal Street Partners LLC’s holdings in ONEOK were worth $284,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OKE. Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter worth $539,554,000. Wellington Management Group LLP grew its holdings in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider’s stock valued at $280,194,000 after purchasing an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ONEOK during the 4th quarter valued at $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK during the 4th quarter valued at $177,045,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Down 1.3%

ONEOK stock opened at $83.67 on Wednesday. The firm’s 50-day moving average is $88.23 and its 200-day moving average is $97.55. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a market cap of $52.26 billion, a P/E ratio of 17.50, a PEG ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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 the consensus estimate of $8.23 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.92%. ONEOK’s payout ratio is currently 80.47%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OKE shares. Wells Fargo & Company lowered their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Citigroup lowered their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $104.69.

ONEOK Company 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.