TCP Asset Management LLC Sells 400 Shares of ONEOK, Inc. (NYSE:OKE)

TCP Asset Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 10.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,600 shares of the utilities provider’s stock after selling 400 shares during the period. TCP Asset Management LLC’s holdings in ONEOK were worth $361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. HB Wealth Management LLC increased its position in ONEOK by 5.4% during the 4th quarter. HB Wealth Management LLC now owns 30,871 shares of the utilities provider’s stock valued at $3,099,000 after purchasing an additional 1,569 shares during the period. Trust Co. of Vermont increased its holdings in ONEOK by 29.7% during the fourth quarter. Trust Co. of Vermont now owns 1,377 shares of the utilities provider’s stock valued at $138,000 after buying an additional 315 shares during the period. CGN Advisors LLC bought a new position in ONEOK in the fourth quarter worth approximately $266,000. Premier Path Wealth Partners LLC lifted its holdings in ONEOK by 2.6% during the fourth quarter. Premier Path Wealth Partners LLC now owns 6,081 shares of the utilities provider’s stock worth $611,000 after buying an additional 156 shares during the period. Finally, Sanibel Captiva Trust Company Inc. boosted its position in ONEOK by 19.2% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 8,248 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 1,331 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

OKE opened at $109.08 on Friday. 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 $67.05 and a 12-month high of $118.07. The firm has a 50 day moving average of $106.17 and a two-hundred day moving average of $95.65. The firm has a market capitalization of $63.72 billion, a PE ratio of 22.82, a P/E/G ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $101.54.

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.