Edgestream Partners L.P. Lowers Stock Position in ONEOK, Inc. (NYSE:OKE)

Edgestream Partners L.P. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 80.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,897 shares of the utilities provider's stock after selling 27,879 shares during the period. Edgestream Partners L.P.'s holdings in ONEOK were worth $692,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OKE. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter worth $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the 4th quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK in the 4th quarter worth $48,000. Versant Capital Management Inc grew its stake in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after acquiring an additional 260 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth $57,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OKE shares. Scotiabank reduced their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Barclays reduced their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price target for the company. Wells Fargo & Company reduced their price target 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. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $103.31.

Remove Ads

ONEOK Price Performance

Shares of ONEOK stock traded up $3.02 on Friday, reaching $96.52. The stock had a trading volume of 2,944,393 shares, compared to its average volume of 4,119,543. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a market cap of $60.26 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business's 50 day moving average is $99.21 and its two-hundred day moving average is $99.57.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is presently 79.69%.

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.