Gilman Hill Asset Management LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Gilman Hill Asset Management LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 95.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,069 shares of the utilities provider's stock after selling 62,391 shares during the quarter. Gilman Hill Asset Management LLC's holdings in ONEOK were worth $305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in 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 purchasing an additional 136,071 shares during the last quarter. Cinctive Capital Management LP bought a new position in ONEOK during the fourth quarter worth $19,909,000. Americana Partners LLC lifted its stake in ONEOK by 258.6% during the fourth quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider's stock worth $27,292,000 after purchasing an additional 196,038 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in ONEOK during the fourth quarter worth $34,360,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in ONEOK by 41.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,399 shares of the utilities provider's stock worth $1,546,000 after purchasing an additional 4,538 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $81.10 on Friday. The business's 50-day moving average price is $83.85 and its 200 day moving average price is $95.59. The firm has a market cap of $50.66 billion, a P/E ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. 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 (NYSE:OKE - Get Free Report) last released its 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). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OKE shares. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price objective 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 reduced their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Finally, Citigroup dropped their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $103.69.

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.

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