ONEOK, Inc. (NYSE:OKE) Shares Sold by Davidson Capital Management Inc.

Davidson Capital Management Inc. trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,247 shares of the utilities provider’s stock after selling 1,311 shares during the quarter. ONEOK makes up 0.8% of Davidson Capital Management Inc.’s portfolio, making the stock its 24th biggest position. Davidson Capital Management Inc.’s holdings in ONEOK were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LaFleur & Godfrey LLC bought a new stake in ONEOK in the fourth quarter valued at about $931,000. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of ONEOK by 16.6% in the 4th quarter. Principal Securities Inc. now owns 3,954 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 563 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of ONEOK by 157.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 12,442 shares of the utilities provider’s stock valued at $1,249,000 after acquiring an additional 7,618 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in ONEOK by 2.4% during the fourth quarter. CIBC Asset Management Inc now owns 102,470 shares of the utilities provider’s stock worth $10,288,000 after purchasing an additional 2,401 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OKE shares. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus dropped their price target on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Barclays cut their price objective 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, June 3rd. Morgan Stanley increased their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Finally, Scotiabank dropped their target price on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 5th. Six investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.69.

ONEOK Price Performance

NYSE OKE opened at $81.07 on Thursday. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The business’s fifty day moving average is $83.00 and its two-hundred day moving average is $93.62. The stock has a market capitalization of $51.04 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.60 and a beta of 0.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the prior year, the company earned $1.09 earnings per share. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s payout ratio is 80.47%.

About ONEOK

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.