ONEOK, Inc. (NYSE:OKE) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 48.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 384 shares of the utilities provider’s stock after selling 361 shares during the period. Bellevue Asset Management LLC’s holdings in ONEOK were worth $39,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC grew its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after buying an additional 263,545 shares in the last quarter. Finally, Barclays PLC grew its holdings 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 buying an additional 262,486 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OKE shares. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays started coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Trading Down 2.0 %

NYSE OKE opened at $91.95 on Thursday. The stock has a market capitalization of $57.40 billion, a P/E ratio of 19.24, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. 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’s 50-day moving average is $100.45 and its two-hundred day moving average is $99.34.

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

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

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.