Oarsman Capital Inc. Has $62,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Oarsman Capital Inc. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 613 shares of the utilities provider’s stock after selling 131 shares during the period. Oarsman Capital Inc.’s holdings in ONEOK were worth $62,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after buying an additional 357,015 shares during the last quarter. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $539,554,000. Finally, Wellington Management Group LLP increased its holdings in ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after buying an additional 3,418,207 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 12.9 %

Shares of ONEOK stock opened at $80.73 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company’s fifty day simple moving average is $97.08 and its 200-day simple moving average is $100.30. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company 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 year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

Several analysts have commented on OKE shares. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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.