Kovitz Investment Group Partners LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Kovitz Investment Group Partners LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 16.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 163,541 shares of the utilities provider's stock after selling 33,160 shares during the period. Kovitz Investment Group Partners LLC's holdings in ONEOK were worth $16,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kieckhefer Group LLC bought a new stake in ONEOK in the 4th quarter valued at about $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new position in shares of ONEOK during the fourth quarter worth approximately $48,000. VSM Wealth Advisory LLC bought a new position in shares of ONEOK in the 4th quarter worth $50,000. Finally, OFI Invest Asset Management acquired a new stake in ONEOK in the 4th quarter valued at $51,000. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OKE shares. Barclays lowered their price objective 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. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.25.

ONEOK Stock Performance

NYSE OKE traded down $0.06 during trading hours on Tuesday, reaching $87.81. 3,490,347 shares of the company were exchanged, compared to its average volume of 3,187,493. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $54.85 billion, a P/E ratio of 18.37, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The business's 50 day simple moving average is $91.81 and its 200-day simple moving average is $98.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

ONEOK Company 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.