ONEOK, Inc. (NYSE:OKE) Shares Sold by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,123,985 shares of the utilities provider’s stock after selling 418,962 shares during the period. ONEOK comprises about 7.9% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 6th biggest position. Tortoise Capital Advisors L.L.C. owned about 1.05% of ONEOK worth $614,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tradition Wealth Management LLC lifted its position in shares of ONEOK by 14.6% in the 4th quarter. Tradition Wealth Management LLC now owns 7,700 shares of the utilities provider’s stock worth $773,000 after acquiring an additional 982 shares during the period. Transce3nd LLC acquired a new position in shares of ONEOK in the fourth quarter valued at $516,000. MML Investors Services LLC lifted its position in ONEOK by 7.5% in the fourth quarter. MML Investors Services LLC now owns 27,353 shares of the utilities provider’s stock worth $2,746,000 after purchasing an additional 1,910 shares during the period. Natixis increased its holdings in ONEOK by 340.5% in the 4th quarter. Natixis now owns 39,265 shares of the utilities provider’s stock valued at $3,942,000 after buying an additional 30,351 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of ONEOK by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 155,042 shares of the utilities provider’s stock valued at $15,566,000 after buying an additional 2,744 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley increased their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Wolfe Research upgraded 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 report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $106.42.

ONEOK Trading Up 1.6 %

Shares of ONEOK stock opened at $86.19 on Friday. The stock has a market cap of $53.84 billion, a P/E ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The business’s 50 day moving average is $93.39 and its 200-day moving average is $99.37.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. 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 declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.78%. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.