Highstreet Asset Management Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 86,470 shares of the utilities provider’s stock after selling 9,675 shares during the period. Highstreet Asset Management Inc.’s holdings in ONEOK were worth $6,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in ONEOK by 1.9% during the 4th quarter. Deutsche Bank AG now owns 3,440,599 shares of the utilities provider’s stock valued at $185,610,000 after buying an additional 64,227 shares in the last quarter. CWM Advisors LLC grew its holdings in ONEOK by 5.5% during the 4th quarter. CWM Advisors LLC now owns 5,648 shares of the utilities provider’s stock valued at $305,000 after buying an additional 295 shares in the last quarter. Paradigm Financial Partners LLC purchased a new stake in ONEOK during the 4th quarter valued at approximately $1,364,000. Wetherby Asset Management Inc. grew its holdings in ONEOK by 5.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 14,063 shares of the utilities provider’s stock valued at $982,000 after buying an additional 672 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in ONEOK during the 1st quarter valued at approximately $219,000. 75.11% of the stock is owned by institutional investors and hedge funds.

NYSE OKE opened at $63.62 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.79 and a debt-to-equity ratio of 1.56. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.84 and a beta of 1.20. ONEOK, Inc. has a 52 week low of $50.26 and a 52 week high of $71.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.70 billion. ONEOK had a net margin of 9.98% and a return on equity of 18.47%. During the same period in the previous year, the firm earned $0.64 earnings per share. Analysts predict that ONEOK, Inc. will post 3.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th were paid a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 5.44%. This is a positive change from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, April 26th. ONEOK’s payout ratio is presently 124.46%.

A number of equities research analysts have issued reports on OKE shares. Evercore ISI started coverage on shares of ONEOK in a report on Tuesday, February 5th. They set a $68.00 price objective for the company. UBS Group lowered shares of ONEOK from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Tuesday, February 26th. Mizuho set a $73.00 target price on shares of ONEOK and gave the company a “hold” rating in a report on Tuesday, February 26th. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, March 19th. Finally, Jefferies Financial Group lowered shares of ONEOK from a “buy” rating to a “hold” rating and raised their target price for the company from $72.00 to $74.00 in a report on Monday, April 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. ONEOK presently has an average rating of “Hold” and a consensus price target of $71.73.

In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of ONEOK stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at $1,037,028. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

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About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in the 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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