ONEOK, Inc. (NYSE:OKE) Shares Sold by Fayez Sarofim & Co

Fayez Sarofim & Co cut its position in ONEOK, Inc. (NYSE:OKE) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,108 shares of the utilities provider’s stock after selling 750 shares during the quarter. Fayez Sarofim & Co’s holdings in ONEOK were worth $9,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Vanguard Group Inc. grew its holdings in ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after buying an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the period. Geode Capital Management LLC increased its stake in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock valued at $1,405,697,000 after buying an additional 357,015 shares during the period. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $539,554,000. Finally, Wellington Management Group LLP increased its stake in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock valued at $422,373,000 after acquiring an additional 3,418,207 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 1.6 %

Shares of ONEOK stock opened at $86.19 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company 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 stock has a 50-day moving average price of $93.39 and a 200 day moving average price of $99.40. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost 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 dividend yield of 4.78%. ONEOK’s payout ratio is presently 79.69%.

Analyst Ratings Changes

OKE has been the topic of several research analyst reports. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Scotiabank reduced their price objective 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. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.42.

ONEOK 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.