Aigen Investment Management LP Reduces Position in ONEOK, Inc. (NYSE:OKE)

Key Points

• Aigen Investment Management LP reduced its stake in ONEOK, Inc. by 67.8%, owning 5,780 shares worth $573,000 after selling 12,197 shares.
• ONEOK reported a quarterly EPS of $1.34, surpassing analysts' expectations, with revenue of $8.21 billion compared to the forecast of $7.20 billion.
• The company announced a quarterly dividend of $1.03, yielding 5.6%, with a payout ratio of 80.31%.

Aigen Investment Management LP lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 67.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,780 shares of the utilities provider's stock after selling 12,197 shares during the period. Aigen Investment Management LP's holdings in ONEOK were worth $573,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Merit Financial Group LLC increased its position in ONEOK by 11.4% during the 1st quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock valued at $1,142,000 after buying an additional 1,180 shares in the last quarter. Capital Investment Advisors LLC increased its position in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after buying an additional 10,957 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in ONEOK by 146.9% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock valued at $1,789,000 after buying an additional 10,728 shares in the last quarter. Ensign Peak Advisors Inc increased its position in ONEOK by 6.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after buying an additional 19,199 shares in the last quarter. Finally, Advisor Resource Council bought a new position in ONEOK during the 1st quarter valued at approximately $511,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on OKE shares. Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barclays set a $83.00 target price on ONEOK in a research note on Thursday. Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus cut their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $103.57.

ONEOK Price Performance

Shares of ONEOK stock traded down $0.53 during trading hours on Thursday, reaching $74.80. The company's stock had a trading volume of 3,106,860 shares, compared to its average volume of 3,976,428. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46. ONEOK, Inc. has a one year low of $73.02 and a one year high of $118.07. The firm has a 50 day moving average price of $80.48 and a 200-day moving average price of $87.01. The stock has a market cap of $47.11 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.76 and a beta of 0.99.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same period last year, the company earned $1.33 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, August 1st. ONEOK's payout ratio is 80.31%.

About ONEOK

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.