Disciplined Equity Management Inc. Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Disciplined Equity Management Inc. lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 50.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,015 shares of the utilities provider’s stock after selling 12,200 shares during the period. ONEOK accounts for 0.8% of Disciplined Equity Management Inc.’s investment portfolio, making the stock its 16th largest position. Disciplined Equity Management Inc.’s holdings in ONEOK were worth $1,192,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in OKE. LaFleur & Godfrey LLC acquired a new stake in ONEOK during the fourth quarter worth about $931,000. Brighton Jones LLC increased its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the last quarter. Stratos Wealth Advisors LLC raised its position in shares of ONEOK by 7.3% during the 4th quarter. Stratos Wealth Advisors LLC now owns 3,052 shares of the utilities provider’s stock valued at $306,000 after buying an additional 208 shares during the period. Bleakley Financial Group LLC lifted its holdings in ONEOK by 4.1% in the fourth quarter. Bleakley Financial Group LLC now owns 12,393 shares of the utilities provider’s stock valued at $1,244,000 after acquiring an additional 492 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after acquiring an additional 136,071 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on OKE. Barclays reduced their target price on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Scotiabank reduced their price objective on shares of ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday. Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target 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. Finally, Morgan Stanley upped their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

ONEOK Stock Performance

Shares of OKE stock opened at $81.70 on Friday. The company has a market cap of $51.03 billion, a P/E ratio of 17.09, a PEG ratio of 3.77 and a beta of 0.94. The firm has a fifty day moving average price of $83.49 and a 200 day moving average price of $95.25. 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 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.04%. ONEOK’s dividend payout ratio (DPR) is presently 80.47%.

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.