Cerity Partners LLC Sells 5,493 Shares of ONEOK, Inc. (NYSE:OKE)

Cerity Partners LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,399 shares of the utilities provider's stock after selling 5,493 shares during the period. Cerity Partners LLC's holdings in ONEOK were worth $14,724,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in ONEOK during the 4th quarter worth $539,554,000. Wellington Management Group LLP grew its stake in ONEOK by 433.4% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after buying an additional 1,971,147 shares during the last quarter. ClearBridge Investments Ltd bought a new position in ONEOK during the 4th quarter worth $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in ONEOK by 445.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider's stock worth $153,319,000 after buying an additional 1,246,963 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 1.2%

ONEOK stock traded down $0.96 during mid-day trading on Tuesday, hitting $80.62. The company's stock had a trading volume of 397,879 shares, compared to its average volume of 3,465,235. The firm's 50 day moving average is $81.97 and its 200 day moving average is $90.62. The company has a market cap of $50.76 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.55 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 52-week low of $75.48 and a 52-week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same period in the prior year, the company posted $1.09 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 5.11%. ONEOK's dividend payout ratio is currently 80.47%.

Analyst Ratings Changes

A number of brokerages recently commented on OKE. Morgan Stanley upped their price objective on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. TD Cowen assumed coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price target for the company. Citigroup decreased their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday. Finally, Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Seven 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.