Ipswich Investment Management Co. Inc. Sells 3,540 Shares of ONEOK, Inc. (NYSE:OKE)

Ipswich Investment Management Co. Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,890 shares of the utilities provider's stock after selling 3,540 shares during the period. ONEOK comprises approximately 1.5% of Ipswich Investment Management Co. Inc.'s portfolio, making the stock its 20th biggest holding. Ipswich Investment Management Co. Inc.'s holdings in ONEOK were worth $6,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in ONEOK during the fourth quarter worth approximately $539,554,000. Wellington Management Group LLP grew its position in ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after buying an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock valued at $280,194,000 after buying an additional 1,971,147 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ONEOK during the 4th quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in ONEOK during the fourth quarter valued at approximately $177,045,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE OKE traded up $1.09 on Friday, hitting $83.74. 5,356,951 shares of the stock were exchanged, compared to its average volume of 3,379,972. The business's fifty day moving average is $83.07 and its 200 day moving average is $94.27. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a market capitalization of $52.72 billion, a PE ratio of 17.52, a P/E/G ratio of 3.77 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The business 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 posted $1.09 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 4.92%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Scotiabank cut their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Six 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.69.

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.