King Luther Capital Management Corp Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

King Luther Capital Management Corp lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,848 shares of the utilities provider's stock after selling 5,222 shares during the quarter. King Luther Capital Management Corp's holdings in ONEOK were worth $2,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock worth $1,848,844,000 after acquiring an additional 934,007 shares during the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Amundi increased its stake in ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider's stock valued at $422,261,000 after purchasing an additional 207,324 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after buying an additional 11,189 shares in the last quarter. Finally, Chickasaw Capital Management LLC grew its holdings in shares of ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider's stock valued at $200,031,000 after buying an additional 263,545 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

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ONEOK Price Performance

NYSE:OKE traded up $0.43 during trading hours on Thursday, hitting $93.40. 4,145,305 shares of the stock traded hands, compared to its average volume of 4,146,748. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock has a 50 day moving average price of $99.34 and a 200 day moving average price of $99.43. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced 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. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.41%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OKE shares. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price target on the stock. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. 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 note on Wednesday, February 26th. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.