Pitcairn Co. Has $511,000 Stake in ONEOK, Inc. (NYSE:OKE)

Pitcairn Co. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 18.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,091 shares of the utilities provider’s stock after selling 1,179 shares during the quarter. Pitcairn Co.’s holdings in ONEOK were worth $511,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Arete Wealth Advisors LLC boosted its holdings in ONEOK by 50.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 19,329 shares of the utilities provider’s stock valued at $1,941,000 after acquiring an additional 6,454 shares during the period. Disciplined Investors L.L.C. acquired a new stake in ONEOK in the 4th quarter valued at approximately $293,000. OneAscent Financial Services LLC increased its position in ONEOK by 116.4% in the 4th quarter. OneAscent Financial Services LLC now owns 7,517 shares of the utilities provider’s stock worth $755,000 after buying an additional 4,044 shares during the period. Cinctive Capital Management LP acquired a new position in shares of ONEOK during the fourth quarter worth approximately $19,909,000. Finally, Meeder Advisory Services Inc. boosted its position in shares of ONEOK by 8.2% in the fourth quarter. Meeder Advisory Services Inc. now owns 12,264 shares of the utilities provider’s stock valued at $1,231,000 after acquiring an additional 934 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Price Performance

ONEOK stock opened at $80.73 on Friday. The business’s fifty day moving average is $97.08 and its two-hundred day moving average is $100.26. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $50.40 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

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.