Evergreen Capital Management LLC Sells 9,614 Shares of ONEOK, Inc. (NYSE:OKE)

Evergreen Capital Management LLC lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,286 shares of the utilities provider's stock after selling 9,614 shares during the period. Evergreen Capital Management LLC's holdings in ONEOK were worth $7,358,000 as of its most recent SEC filing.

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

ONEOK Stock Performance

ONEOK stock traded up $1.61 during midday trading on Tuesday, hitting $83.43. The stock had a trading volume of 540,310 shares, compared to its average volume of 4,155,146. The company has a market capitalization of $52.11 billion, a PE ratio of 17.45, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52-week low of $75.47 and a 52-week high of $118.07. The firm's fifty day moving average is $93.07 and its two-hundred day moving average is $99.31. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is 79.69%.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a "buy" rating and a $110.00 target price on the stock. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.42.

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.