CIBC Private Wealth Group LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

CIBC Private Wealth Group LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,163,969 shares of the utilities provider's stock after selling 88,422 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.37% of ONEOK worth $222,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. FMR LLC increased its holdings in ONEOK by 11.7% during the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider's stock worth $106,797,000 after buying an additional 122,362 shares during the last quarter. Fiduciary Trust Co increased its stake in shares of ONEOK by 41.6% during the 3rd quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider's stock worth $733,000 after purchasing an additional 2,363 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in ONEOK by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 101,905 shares of the utilities provider's stock valued at $9,287,000 after purchasing an additional 390 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in ONEOK by 1.9% in the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider's stock worth $25,070,000 after buying an additional 5,067 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of ONEOK by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider's stock worth $9,133,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

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ONEOK Price Performance

OKE traded down $6.50 during midday trading on Thursday, hitting $93.87. The stock had a trading volume of 2,573,266 shares, compared to its average volume of 3,031,655. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. 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 business has a fifty day moving average of $97.80 and a 200 day moving average of $100.36. The company has a market cap of $58.61 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.39%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKE. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Scotiabank decreased their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock 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 lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley boosted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $105.00.

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.