Sagefield Capital LP Sells 77,922 Shares of ONEOK, Inc. (NYSE:OKE)

Sagefield Capital LP reduced its position in ONEOK, Inc. (NYSE:OKE) by 62.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,413 shares of the utilities provider’s stock after selling 77,922 shares during the period. Sagefield Capital LP’s holdings in ONEOK were worth $4,760,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Greenline Partners LLC purchased a new position in ONEOK during the 4th quarter worth approximately $32,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the 4th quarter valued at about $39,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the 4th quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK in the 4th quarter valued at about $48,000. Finally, VSM Wealth Advisory LLC purchased a new stake in ONEOK during the fourth quarter worth about $50,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OKE shares. Wells Fargo & Company lowered their target price 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. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Scotiabank reduced their price target on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Down 0.3%

Shares of ONEOK stock opened at $85.74 on Friday. The stock has a 50-day moving average price of $88.59 and a 200 day moving average price of $97.69. The company has a market cap of $53.55 billion, a P/E ratio of 17.94, a P/E/G ratio of 3.77 and a beta of 1.01. 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 1 year low of $75.48 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $1.09 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is currently 80.47%.

ONEOK Company 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.