ONEOK, Inc. (NYSE:OKE) Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 658,804 shares of the utilities provider’s stock after selling 8,742 shares during the period. ONEOK comprises about 6.1% of Recurrent Investment Advisors LLC’s holdings, making the stock its 4th largest position. Recurrent Investment Advisors LLC owned 0.11% of ONEOK worth $66,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK in the fourth quarter valued at $39,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the fourth quarter worth about $48,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $50,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.2%

Shares of NYSE OKE opened at $86.31 on Thursday. 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 $88.84 and its two-hundred day moving average is $97.83. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a market capitalization of $53.91 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company posted $1.09 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 4.77%. ONEOK’s dividend payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank decreased their price objective on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 29th. Wolfe Research raised shares of 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. Barclays reduced their target price 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. 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 company presently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company 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.