SIR Capital Management L.P. reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 71.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,500 shares of the utilities provider’s stock after selling 321,390 shares during the quarter. ONEOK accounts for about 1.5% of SIR Capital Management L.P.’s investment portfolio, making the stock its 29th biggest holding. SIR Capital Management L.P.’s holdings in ONEOK were worth $6,975,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Delpha Capital Management LLC bought a new stake in ONEOK in the fourth quarter worth $134,000. Tower Research Capital LLC TRC increased its position in ONEOK by 562.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 2,322 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in ONEOK during the third quarter valued at $150,000. Sun Life Financial INC increased its position in ONEOK by 82.1% during the third quarter. Sun Life Financial INC now owns 2,796 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 1,261 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of ONEOK during the third quarter valued at $169,000. Hedge funds and other institutional investors own 68.50% of the company’s stock.
A number of research firms recently weighed in on OKE. Mizuho reaffirmed a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research note on Tuesday, January 23rd. Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $58.00 to $67.00 in a report on Wednesday, January 17th. Royal Bank of Canada upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 16th. BMO Capital Markets restated a “buy” rating and issued a $64.00 price objective on shares of ONEOK in a research report on Tuesday, January 16th. Finally, Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $61.29.
In related news, VP Sheppard F. Miers III sold 2,200 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total value of $124,740.00. Following the completion of the transaction, the vice president now owns 31,244 shares of the company’s stock, valued at $1,771,534.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
Shares of ONEOK, Inc. (OKE) traded down $0.60 during trading hours on Wednesday, hitting $57.16. The stock had a trading volume of 2,300,000 shares, compared to its average volume of 2,690,000. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.66 and a quick ratio of 0.50. ONEOK, Inc. has a twelve month low of $47.14 and a twelve month high of $61.36. The stock has a market capitalization of $23,470.00, a P/E ratio of 58.93, a P/E/G ratio of 2.91 and a beta of 1.26.
ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $4.10 billion. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. During the same period in the prior year, the business posted $0.43 earnings per share. sell-side analysts forecast that ONEOK, Inc. will post 2.48 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, January 26th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.39%. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio (DPR) is 317.53%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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