B. Metzler seel. Sohn & Co. AG Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

B. Metzler seel. Sohn & Co. AG reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,456 shares of the utilities provider’s stock after selling 30,928 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in ONEOK were worth $7,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of ONEOK by 11.7% during the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after purchasing an additional 122,362 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of ONEOK by 0.3% in the third quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider’s stock worth $9,133,000 after acquiring an additional 297 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of ONEOK by 4.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock valued at $430,000 after acquiring an additional 200 shares in the last quarter. Edgestream Partners L.P. increased its position in ONEOK by 129.6% during the 3rd quarter. Edgestream Partners L.P. now owns 34,776 shares of the utilities provider’s stock worth $3,169,000 after purchasing an additional 19,632 shares in the last quarter. Finally, Tradition Wealth Management LLC raised its stake in ONEOK by 3.4% in the 3rd quarter. Tradition Wealth Management LLC now owns 6,718 shares of the utilities provider’s stock valued at $612,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKE shares. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wolfe Research upgraded 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. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Performance

ONEOK stock opened at $99.28 on Tuesday. The firm has a market capitalization of $61.98 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The stock’s 50 day moving average price is $98.12 and its 200 day moving average price is $100.30. 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 (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 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.