Contravisory Investment Management Inc. Sells 997 Shares of ONEOK, Inc. (NYSE:OKE)

Contravisory Investment Management Inc. lessened its position in ONEOK, Inc. (NYSE:OKE) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,456 shares of the utilities provider’s stock after selling 997 shares during the period. ONEOK comprises 2.0% of Contravisory Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Contravisory Investment Management Inc.’s holdings in ONEOK were worth $9,273,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc increased its holdings in ONEOK by 70.1% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 495,570 shares of the utilities provider’s stock worth $49,180,000 after buying an additional 204,257 shares in the last quarter. Clarus Wealth Advisors purchased a new stake in shares of ONEOK during the 1st quarter valued at about $279,000. Unigestion Holding SA grew its stake in shares of ONEOK by 132.9% in the first quarter. Unigestion Holding SA now owns 23,473 shares of the utilities provider’s stock worth $2,329,000 after acquiring an additional 13,394 shares during the period. Spring Capital Management LLC lifted its position in ONEOK by 56.5% during the first quarter. Spring Capital Management LLC now owns 7,824 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 2,824 shares during the period. Finally, Smith Anglin Financial LLC purchased a new stake in ONEOK in the first quarter worth approximately $711,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on OKE shares. Scotiabank dropped their target price on ONEOK from $100.00 to $96.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, May 20th. 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 note on Monday, February 10th. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Finally, Barclays dropped their price target on shares of ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Performance

Shares of OKE stock opened at $83.27 on Wednesday. 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 12-month low of $75.48 and a 12-month high of $118.07. The business’s 50 day moving average is $84.57 and its two-hundred day moving average is $95.91. The company has a market capitalization of $52.01 billion, a P/E ratio of 17.42, a P/E/G ratio of 3.77 and a beta of 1.01.

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

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio is currently 80.47%.

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.