International Assets Investment Management LLC Sells 3,194,972 Shares of ONEOK, Inc. (NYSE:OKE)

International Assets Investment Management LLC lowered its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,017 shares of the utilities provider's stock after selling 3,194,972 shares during the quarter. International Assets Investment Management LLC's holdings in ONEOK were worth $3,665,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in OKE. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ONEOK in the 3rd quarter worth about $47,957,000. Bahl & Gaynor Inc. raised its holdings in shares of ONEOK by 3,648.4% during the second quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider's stock valued at $41,995,000 after buying an additional 501,216 shares during the last quarter. Yaupon Capital Management LP bought a new position in ONEOK in the 3rd quarter worth approximately $45,194,000. Finally, National Bank of Canada FI increased its position in ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider's stock valued at $63,605,000 after acquiring an additional 465,243 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OKE. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a report on Wednesday, October 16th. Mizuho upgraded ONEOK to a "hold" rating in a report on Thursday, November 7th. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price objective on the stock. Finally, Morgan Stanley raised ONEOK from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.00.

ONEOK Price Performance

Shares of ONEOK stock traded up $1.07 during trading on Wednesday, reaching $102.68. The company's stock had a trading volume of 2,736,226 shares, compared to its average volume of 2,565,804. The stock has a 50-day moving average price of $105.22 and a two-hundred day moving average price of $94.49. The stock has a market capitalization of $59.98 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 5.24 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. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.86%. ONEOK's payout ratio is currently 82.85%.

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.