Renaissance Technologies LLC Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Renaissance Technologies LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,111,611 shares of the utilities provider's stock after selling 10,836 shares during the period. Renaissance Technologies LLC owned about 0.19% of ONEOK worth $111,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. grew its holdings in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after acquiring an additional 558,789 shares during the last quarter. 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 purchasing an additional 934,007 shares during the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after purchasing an additional 357,015 shares during the period. Norges Bank bought a new position in ONEOK during the 4th quarter worth $539,554,000. Finally, Wellington Management Group LLP lifted its holdings in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after buying an additional 3,418,207 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OKE shares. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 target price for the company. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

ONEOK Stock Up 1.5 %

NYSE:OKE traded up $1.20 on Friday, hitting $82.44. The stock had a trading volume of 3,777,706 shares, compared to its average volume of 3,159,477. 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, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The business's fifty day moving average is $94.64 and its 200 day moving average is $99.59. The company has a market cap of $51.49 billion, a PE ratio of 17.25, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The company 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, equities research analysts expect 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. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 5.00%. ONEOK's payout ratio is presently 79.69%.

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.