Voloridge Investment Management LLC Sells 375,765 Shares of ONEOK, Inc. (NYSE:OKE)

Voloridge Investment Management LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 93.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,594 shares of the utilities provider’s stock after selling 375,765 shares during the quarter. Voloridge Investment Management LLC’s holdings in ONEOK were worth $982,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 11.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,448,630 shares of the utilities provider’s stock valued at $247,499,000 after purchasing an additional 641,346 shares during the period. Morgan Stanley increased its stake in ONEOK by 117.2% in the 4th quarter. Morgan Stanley now owns 4,179,095 shares of the utilities provider’s stock worth $160,393,000 after acquiring an additional 2,254,847 shares during the last quarter. Brookfield Asset Management Inc. increased its stake in ONEOK by 0.4% in the 4th quarter. Brookfield Asset Management Inc. now owns 2,415,511 shares of the utilities provider’s stock worth $92,707,000 after acquiring an additional 9,421 shares during the last quarter. Nuveen Asset Management LLC increased its stake in ONEOK by 15.8% in the 4th quarter. Nuveen Asset Management LLC now owns 2,261,004 shares of the utilities provider’s stock worth $86,777,000 after acquiring an additional 308,339 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in ONEOK by 181.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,042,021 shares of the utilities provider’s stock worth $78,372,000 after acquiring an additional 1,315,717 shares during the last quarter. Institutional investors own 64.03% of the company’s stock.

NYSE OKE opened at $50.92 on Friday. ONEOK, Inc. has a fifty-two week low of $23.28 and a fifty-two week high of $52.11. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.57. The stock has a 50 day simple moving average of $48.92 and a two-hundred day simple moving average of $39.21. The stock has a market cap of $22.66 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 3.29 and a beta of 1.99.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Sunday, February 21st. The utilities provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.05). ONEOK had a return on equity of 18.38% and a net margin of 7.24%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts predict that ONEOK, Inc. will post 2.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Monday, February 1st were issued a $0.935 dividend. This represents a $3.74 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Friday, January 29th. ONEOK’s dividend payout ratio (DPR) is currently 121.82%.

A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, December 29th. Morgan Stanley upped their target price on ONEOK from $40.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, March 29th. Raymond James upped their price objective on ONEOK from $35.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Seaport Global Securities cut ONEOK from a “buy” rating to a “neutral” rating in a report on Monday, February 8th. Finally, Mizuho upped their price objective on ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $38.14.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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