Chicago Partners Investment Group LLC Sells 3,767 Shares of ONEOK, Inc. (NYSE:OKE)

Chicago Partners Investment Group LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 270,781 shares of the utilities provider’s stock after selling 3,767 shares during the quarter. ONEOK accounts for 0.9% of Chicago Partners Investment Group LLC’s portfolio, making the stock its 25th biggest position. Chicago Partners Investment Group LLC’s holdings in ONEOK were worth $27,850,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of ONEOK during the third quarter worth about $47,957,000. Yaupon Capital Management LP bought a new stake in shares of ONEOK in the third quarter worth about $45,194,000. Finally, National Bank of Canada FI increased its holdings in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Trading Down 2.9 %

Shares of OKE opened at $96.95 on Friday. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a 50 day simple moving average of $104.92 and a two-hundred day simple moving average of $96.97. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $56.64 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK’s payout ratio is 82.85%.

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.