ONEOK, Inc. (NYSE:OKE) Stock Holdings Lessened by Principal Street Partners LLC

Principal Street Partners LLC cut its position in ONEOK, Inc. (NYSE:OKE) by 55.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,824 shares of the utilities provider’s stock after selling 3,499 shares during the quarter. Principal Street Partners LLC’s holdings in ONEOK were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. USS Investment Management Ltd lifted its position in ONEOK by 21.0% in the 4th quarter. USS Investment Management Ltd now owns 204,635 shares of the utilities provider’s stock valued at $20,548,000 after purchasing an additional 35,483 shares during the last quarter. Waverly Advisors LLC lifted its position in ONEOK by 21.2% in the 4th quarter. Waverly Advisors LLC now owns 8,850 shares of the utilities provider’s stock valued at $889,000 after purchasing an additional 1,549 shares during the last quarter. Woodline Partners LP bought a new stake in ONEOK in the 4th quarter valued at about $3,522,000. Zurich Insurance Group Ltd FI bought a new stake in ONEOK in the 4th quarter valued at about $2,289,000. Finally, Vident Advisory LLC lifted its position in ONEOK by 971.1% in the 4th quarter. Vident Advisory LLC now owns 78,091 shares of the utilities provider’s stock valued at $7,840,000 after purchasing an additional 70,800 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 1.3%

NYSE OKE opened at $83.67 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company’s 50 day simple moving average is $88.23 and its 200 day simple moving average is $97.55. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The company has a market capitalization of $52.26 billion, a P/E ratio of 17.50, a PEG ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.92%. ONEOK’s payout ratio is currently 80.47%.

Analyst Ratings Changes

Several analysts recently weighed in on OKE shares. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Wells Fargo & Company dropped their price target on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. 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, Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Six 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.69.

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.