ONEOK, Inc. (NYSE:OKE) Shares Sold by Zimmer Partners LP

Zimmer Partners LP reduced its stake in ONEOK, Inc. (NYSE:OKE) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the utilities provider’s stock after selling 25,000 shares during the period. Zimmer Partners LP’s holdings in ONEOK were worth $3,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its position in ONEOK by 32.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock valued at $39,000 after buying an additional 190 shares during the last quarter. Fifth Third Bancorp boosted its position in ONEOK by 3.1% in the 1st quarter. Fifth Third Bancorp now owns 7,986 shares of the utilities provider’s stock valued at $405,000 after buying an additional 239 shares during the last quarter. Alliance Wealth Advisors LLC boosted its position in ONEOK by 2.0% in the 1st quarter. Alliance Wealth Advisors LLC now owns 12,381 shares of the utilities provider’s stock valued at $627,000 after buying an additional 246 shares during the last quarter. Signaturefd LLC boosted its position in ONEOK by 2.2% in the 1st quarter. Signaturefd LLC now owns 11,651 shares of the utilities provider’s stock valued at $590,000 after buying an additional 250 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in ONEOK by 2.5% in the 1st quarter. Truvestments Capital LLC now owns 10,533 shares of the utilities provider’s stock valued at $534,000 after buying an additional 256 shares during the last quarter. 63.98% of the stock is owned by institutional investors.

NYSE:OKE traded down $0.50 during trading hours on Thursday, reaching $52.96. 3,490 shares of the company’s stock were exchanged, compared to its average volume of 2,301,571. The stock has a market cap of $23.60 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.63 and a beta of 2.03. ONEOK, Inc. has a 12 month low of $23.28 and a 12 month high of $57.55. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.98 and a quick ratio of 0.72. The stock has a 50-day moving average price of $54.65.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.09. ONEOK had a net margin of 11.88% and a return on equity of 18.61%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the firm posted $0.83 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 3.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Monday, August 2nd will be paid a $0.935 dividend. This represents a $3.74 dividend on an annualized basis and a yield of 7.06%. ONEOK’s dividend payout ratio is 263.38%.

OKE has been the topic of several research analyst reports. Mizuho increased their price target on shares of ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 7th. They noted that the move was a valuation call. Raymond James increased their price target on shares of ONEOK from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Wells Fargo & Company increased their price target on shares of ONEOK from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. TheStreet raised shares of ONEOK from a “c+” rating to a “b-” rating in a report on Wednesday, April 28th. Finally, Credit Suisse Group raised their target price on shares of ONEOK from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, May 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.82.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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