Tortoise Capital Advisors L.L.C. Sells 418,962 Shares of ONEOK, Inc. (NYSE:OKE)

Tortoise Capital Advisors L.L.C. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,123,985 shares of the utilities provider's stock after selling 418,962 shares during the period. ONEOK makes up approximately 7.9% of Tortoise Capital Advisors L.L.C.'s holdings, making the stock its 6th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 1.05% of ONEOK worth $614,848,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OKE. FNY Investment Advisers LLC increased its holdings in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock valued at $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of ONEOK in the fourth quarter worth about $251,000. Sumitomo Mitsui Trust Group Inc. grew its position in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock valued at $155,038,000 after buying an additional 136,071 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in ONEOK in the 4th quarter worth about $9,483,000. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley boosted their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price target on the stock. Scotiabank cut 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. 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 report on Monday, February 10th. Finally, Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Seven 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $106.42.

ONEOK Stock Performance

Shares of ONEOK stock traded down $0.06 on Friday, hitting $86.22. The stock had a trading volume of 962,488 shares, compared to its average volume of 3,168,955. The stock has a market cap of $53.85 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.77 and a beta of 1.20. 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 52-week low of $75.48 and a 52-week high of $118.07. The company's 50 day moving average price is $92.28 and its 200 day moving average price is $99.04.

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

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.78%. ONEOK's dividend payout ratio (DPR) is presently 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.