First Eagle Investment Management LLC Sells 671,765 Shares of ONEOK, Inc. (NYSE:OKE)

First Eagle Investment Management LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,774,303 shares of the utilities provider's stock after selling 671,765 shares during the period. First Eagle Investment Management LLC owned 0.47% of ONEOK worth $278,540,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Astoria Portfolio Advisors LLC. raised its holdings in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC raised its holdings in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after buying an additional 100 shares in the last quarter. Mutual Advisors LLC raised its holdings in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after buying an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA raised its holdings in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after buying an additional 104 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

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ONEOK Stock Performance

OKE stock traded down $0.50 during trading on Tuesday, reaching $97.95. 2,728,695 shares of the stock were exchanged, compared to its average volume of 2,826,963. 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 stock has a 50 day simple moving average of $99.15 and a 200-day simple moving average of $99.70. The company has a market capitalization of $61.15 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is presently 79.69%.

Analysts Set New Price Targets

Several research firms have weighed in on OKE. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Scotiabank dropped 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. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $103.31.

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.