Capital Management Corp VA Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

Capital Management Corp VA reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,762 shares of the utilities provider's stock after selling 26,975 shares during the quarter. ONEOK comprises about 2.7% of Capital Management Corp VA's portfolio, making the stock its 12th biggest position. Capital Management Corp VA's holdings in ONEOK were worth $15,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of OKE. Greenline Partners LLC acquired a new stake in ONEOK in the fourth quarter worth $32,000. First Pacific Financial acquired a new stake in shares of ONEOK during the first quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in ONEOK in the 4th quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK in the 4th quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ONEOK in the 1st quarter valued at $39,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 2.7%

Shares of OKE stock traded up $2.18 on Friday, hitting $83.42. The stock had a trading volume of 4,553,712 shares, compared to its average volume of 3,490,608. The business has a 50 day moving average of $81.97 and a 200 day moving average of $90.21. The stock has a market cap of $52.52 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted 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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company dropped their target price on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Finally, Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday. Six equities research 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, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $103.07.

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.