Neo Ivy Capital Management Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Neo Ivy Capital Management lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 55.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,579 shares of the utilities provider's stock after selling 4,377 shares during the period. Neo Ivy Capital Management's holdings in ONEOK were worth $359,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of OKE. Barclays PLC increased its holdings in ONEOK by 16.1% during the 3rd quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock worth $172,131,000 after purchasing an additional 262,486 shares during the last quarter. LaFleur & Godfrey LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $931,000. Ballentine Partners LLC grew its position in shares of ONEOK by 8.1% in the 4th quarter. Ballentine Partners LLC now owns 5,090 shares of the utilities provider's stock worth $511,000 after acquiring an additional 383 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in ONEOK during the 4th quarter valued at approximately $251,000. Finally, Daymark Wealth Partners LLC boosted its position in ONEOK by 2.1% during the 4th quarter. Daymark Wealth Partners LLC now owns 5,646 shares of the utilities provider's stock valued at $567,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

Shares of NYSE OKE traded down $0.93 during mid-day trading on Thursday, reaching $79.66. 1,357,359 shares of the company were exchanged, compared to its average volume of 3,277,501. The company's 50 day moving average price is $86.12 and its 200 day moving average price is $96.74. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The stock has a market capitalization of $49.76 billion, a PE ratio of 16.67, a PEG ratio of 3.77 and a beta of 1.01. 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 announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal 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 issued a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 5.17%. ONEOK's dividend payout ratio is currently 80.47%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKE. 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 report on Thursday, May 1st. Wells Fargo & Company decreased their price target 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. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. 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 report on Monday, February 10th. Finally, Citigroup lowered 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 research 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.69.

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.