King Luther Capital Management Corp Sells 5,222 Shares of ONEOK, Inc. (NYSE:OKE)

King Luther Capital Management Corp reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,848 shares of the utilities provider’s stock after selling 5,222 shares during the period. King Luther Capital Management Corp’s holdings in ONEOK were worth $2,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Citizens Financial Group Inc. RI lifted its position in shares of ONEOK by 12.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 12,880 shares of the utilities provider’s stock worth $1,293,000 after buying an additional 1,471 shares in the last quarter. Sage Mountain Advisors LLC lifted its holdings in ONEOK by 5.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 9,476 shares of the utilities provider’s stock worth $951,000 after acquiring an additional 490 shares during the period. Dearborn Partners LLC boosted its position in ONEOK by 0.7% in the fourth quarter. Dearborn Partners LLC now owns 111,198 shares of the utilities provider’s stock worth $11,164,000 after purchasing an additional 748 shares during the last quarter. Davis R M Inc. grew its stake in ONEOK by 4.6% in the 4th quarter. Davis R M Inc. now owns 6,040 shares of the utilities provider’s stock valued at $606,000 after purchasing an additional 266 shares during the period. Finally, Ranch Capital Advisors Inc. increased its position in shares of ONEOK by 4.3% during the 4th quarter. Ranch Capital Advisors Inc. now owns 17,717 shares of the utilities provider’s stock valued at $1,779,000 after purchasing an additional 731 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.4 %

Shares of NYSE OKE opened at $93.00 on Thursday. The business has a 50-day simple moving average of $99.51 and a two-hundred day simple moving average of $99.48. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company has a market cap of $58.06 billion, a P/E ratio of 19.46, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Scotiabank cut their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Finally, UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

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.