Blackstone Inc. Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Blackstone Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 277,514 shares of the utilities provider's stock after selling 62,562 shares during the quarter. Blackstone Inc.'s holdings in ONEOK were worth $27,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. FNY Investment Advisers LLC raised its position in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after acquiring an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after buying an additional 5,321 shares in the last quarter. Simon Quick Advisors LLC bought a new stake in ONEOK during the 4th quarter valued at $251,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after acquiring an additional 136,071 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in ONEOK in the 4th quarter valued at about $9,483,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the topic of a number of recent research reports. Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Scotiabank cut their target price on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Citigroup lowered their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $105.00.

ONEOK Trading Up 0.1 %

Shares of ONEOK stock traded up $0.08 during trading on Friday, reaching $82.33. 2,884,754 shares of the stock were exchanged, compared to its average volume of 3,248,639. The stock's fifty day moving average is $89.10 and its 200 day moving average is $98.06. The firm has a market cap of $51.43 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.00%. ONEOK's payout ratio is 80.47%.

ONEOK Company 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.