Edgestream Partners L.P. Sells 27,879 Shares of ONEOK, Inc. (NYSE:OKE)

Edgestream Partners L.P. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 80.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,897 shares of the utilities provider’s stock after selling 27,879 shares during the period. Edgestream Partners L.P.’s holdings in ONEOK were worth $692,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK during the 4th quarter worth approximately $48,000. Versant Capital Management Inc lifted its stake in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of ONEOK during the 4th quarter worth approximately $58,000. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Up 0.4 %

Shares of NYSE:OKE opened at $93.00 on Thursday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The business’s fifty day simple moving average is $99.51 and its 200-day simple moving average is $99.48. The company has a market capitalization of $58.06 billion, a PE ratio of 19.46, a P/E/G ratio of 3.77 and a beta of 1.70. 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 (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.43%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OKE. Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Barclays decreased their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.31.

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.