Prudential PLC Cuts Position in ONEOK, Inc. (NYSE:OKE)

Prudential PLC trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,361 shares of the utilities provider's stock after selling 16,014 shares during the period. Prudential PLC's holdings in ONEOK were worth $24,634,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. 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. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Seven equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.00.

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ONEOK Trading Down 2.9 %

OKE traded down $2.28 during trading on Wednesday, hitting $76.43. The company's stock had a trading volume of 2,029,439 shares, compared to its average volume of 3,126,640. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock has a market cap of $47.72 billion, a PE ratio of 15.99, a PEG ratio of 3.77 and a beta of 1.20. The firm's 50 day moving average price is $95.81 and its 200-day moving average price is $99.95. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio (DPR) is 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.