ONEOK, Inc. (NYSE:OKE) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 30.3% during the first quarter, Holdings Channel.com reports. The fund owned 23,169 shares of the utilities provider’s stock after selling 10,091 shares during the period. Morningstar Investment Management LLC’s holdings in ONEOK were worth $2,299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Greenline Partners LLC purchased a new position in ONEOK in the 4th quarter valued at about $32,000. First Pacific Financial purchased a new position in shares of ONEOK during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK during the fourth quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the 1st quarter valued at $39,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKE. Barclays decreased their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. TD Cowen began coverage on ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Citigroup decreased their target price 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. Finally, Scotiabank set a $92.00 price target on shares of ONEOK and gave the stock a “sector outperform” rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $104.86.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $81.84 on Tuesday. The business’s 50-day simple moving average is $81.44 and its 200 day simple moving average is $89.19. The company has a market cap of $51.52 billion, a P/E ratio of 15.98, a PEG ratio of 1.90 and a beta of 0.93. 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, Inc. has a one year low of $75.47 and a one year high of $118.07.

ONEOK (NYSE:OKE) last posted 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). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Friday, August 1st. 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.