Burns Matteson Capital Management LLC Sells 3,354 Shares of ONEOK, Inc. (NYSE:OKE)

Burns Matteson Capital Management LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 58.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,364 shares of the utilities provider’s stock after selling 3,354 shares during the period. Burns Matteson Capital Management LLC’s holdings in ONEOK were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of OKE. Vanguard Group Inc. lifted its stake in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after acquiring an additional 558,789 shares in the last quarter. Geode Capital Management LLC lifted its position in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after acquiring an additional 357,015 shares during the period. Northern Trust Corp lifted its holdings in shares of ONEOK by 15.2% in the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after buying an additional 864,392 shares during the period. Norges Bank acquired a new position in ONEOK during the fourth quarter worth $539,554,000. Finally, Bank of New York Mellon Corp increased its position in ONEOK by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider’s stock worth $469,038,000 after buying an additional 117,901 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 2.6%

NYSE OKE opened at $81.24 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market capitalization of $51.15 billion, a P/E ratio of 15.87, a PEG ratio of 1.53 and a beta of 0.93. The firm’s 50-day moving average is $81.94 and its two-hundred day moving average is $90.33. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK’s dividend payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Scotiabank set a $92.00 price target on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday. Barclays cut their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus reduced 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. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.07.

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.