Grassi Investment Management Reduces Stock Position in ONEOK, Inc. (NYSE:OKE)

Grassi Investment Management reduced its holdings in ONEOK, Inc. (NYSE:OKEFree Report) by 5.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,400 shares of the utilities provider’s stock after selling 300 shares during the period. Grassi Investment Management’s holdings in ONEOK were worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares in the last quarter. Norges Bank bought a new stake in shares of ONEOK in the 4th quarter worth about $297,948,000. Deutsche Bank AG lifted its holdings in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after acquiring an additional 3,636,660 shares during the last quarter. Blackstone Inc. lifted its holdings in shares of ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after acquiring an additional 3,478,316 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of ONEOK by 5,247.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock worth $173,017,000 after acquiring an additional 2,417,849 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.7 %

Shares of NYSE:OKE traded down $1.37 during trading hours on Friday, hitting $79.68. The company’s stock had a trading volume of 1,320,203 shares, compared to its average volume of 2,824,945. ONEOK, Inc. has a 52 week low of $57.37 and a 52 week high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The company has a market capitalization of $46.51 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 4.29 and a beta of 1.65. The firm’s fifty day moving average price is $79.83 and its 200 day moving average price is $75.23.

ONEOK (NYSE:OKEGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. As a group, research analysts expect that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OKE shares. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. UBS Group lifted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus lifted their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.25.

View Our Latest Analysis on OKE

ONEOK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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