Outfitter Financial LLC Sells 12,000 Shares of ONEOK, Inc. (NYSE:OKE)

Outfitter Financial LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 36.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,500 shares of the utilities provider's stock after selling 12,000 shares during the period. ONEOK accounts for about 1.8% of Outfitter Financial LLC's portfolio, making the stock its 18th largest holding. Outfitter Financial LLC's holdings in ONEOK were worth $2,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock worth $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after buying an additional 357,015 shares during the last quarter. Northern Trust Corp raised its position in ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock worth $656,200,000 after acquiring an additional 864,392 shares in the last quarter. Norges Bank acquired a new stake in ONEOK in the fourth quarter valued at $539,554,000. Finally, Bank of New York Mellon Corp lifted its stake in ONEOK by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 4,727,250 shares of the utilities provider's stock valued at $469,038,000 after acquiring an additional 117,901 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. Wells Fargo & Company lowered their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Seven 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.07.

ONEOK Stock Performance

Shares of ONEOK stock traded up $2.18 during trading on Friday, reaching $83.42. The company's stock had a trading volume of 4,553,712 shares, compared to its average volume of 3,490,603. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The business's 50-day moving average price is $81.97 and its 200-day moving average price is $90.21. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market cap of $52.52 billion, a PE ratio of 16.29, a P/E/G ratio of 1.90 and a beta of 0.93.

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

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.94%. ONEOK's payout ratio is 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.