Disciplined Equity Management Inc. Sells 12,200 Shares of ONEOK, Inc. (NYSE:OKE)

Disciplined Equity Management Inc. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 50.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,015 shares of the utilities provider's stock after selling 12,200 shares during the quarter. ONEOK comprises about 0.8% of Disciplined Equity Management Inc.'s portfolio, making the stock its 16th largest holding. Disciplined Equity Management Inc.'s holdings in ONEOK were worth $1,192,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of OKE. Alliance Wealth Advisors LLC grew its stake in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after acquiring an additional 100 shares during the last quarter. L.M. Kohn & Company raised its position in shares of ONEOK by 4.5% in the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider's stock valued at $247,000 after purchasing an additional 105 shares during the last quarter. Mindset Wealth Management LLC boosted its stake in ONEOK by 0.7% in the 4th quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after purchasing an additional 106 shares in the last quarter. Marcum Wealth LLC grew its position in ONEOK by 1.1% during the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 108 shares during the last quarter. Finally, 1620 Investment Advisors Inc. increased its stake in ONEOK by 1.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock valued at $590,000 after purchasing an additional 112 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Morgan Stanley lifted their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Scotiabank cut their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average target price of $103.69.

ONEOK Stock Up 0.6%

OKE stock opened at $81.70 on Friday. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm's fifty day moving average is $83.49 and its 200 day moving average is $95.25. The firm has a market cap of $51.03 billion, a PE ratio of 17.09, a P/E/G ratio of 3.77 and a beta of 0.94.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $8.23 billion. During the same period in the prior year, the business posted $1.09 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.04%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.