HUB Investment Partners LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

HUB Investment Partners LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,581 shares of the utilities provider's stock after selling 6,208 shares during the period. HUB Investment Partners LLC's holdings in ONEOK were worth $17,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Royal London Asset Management Ltd. lifted its stake in shares of ONEOK by 7.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 324,806 shares of the utilities provider's stock worth $32,611,000 after purchasing an additional 23,009 shares during the last quarter. Generali Investments Management Co LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at about $485,000. GM Advisory Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at about $210,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of ONEOK by 118.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,053 shares of the utilities provider's stock valued at $608,000 after buying an additional 3,281 shares in the last quarter. Finally, SageOak Financial LLC purchased a new position in shares of ONEOK in the 4th quarter worth approximately $1,556,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

OKE traded up $3.00 on Monday, reaching $102.34. The stock had a trading volume of 3,284,724 shares, compared to its average volume of 2,861,519. The business's 50-day moving average price is $98.91 and its two-hundred day moving average price is $99.99. 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 12-month low of $76.23 and a 12-month high of $118.07. The company has a market cap of $63.89 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. Sell-side analysts forecast 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 annualized dividend and a yield of 4.03%. 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 (DPR) is presently 79.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKE. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 target price for the company. Wells Fargo & Company lowered their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Finally, Scotiabank dropped their price target 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. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $103.31.

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.