ONEOK, Inc. (NYSE:OKE) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,824 shares of the utilities provider's stock after selling 3,499 shares during the quarter. Principal Street Partners LLC's holdings in ONEOK were worth $284,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OKE. Greenline Partners LLC acquired a new stake in ONEOK during the 4th quarter valued at $32,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK during the 4th quarter valued at $39,000. Canton Hathaway LLC acquired a new stake in ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in shares of ONEOK during the fourth quarter worth $48,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $50,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 0.3%

ONEOK stock traded down $0.24 during midday trading on Friday, reaching $81.13. The stock had a trading volume of 2,115,540 shares, compared to its average volume of 3,282,456. The stock's 50-day simple moving average is $87.26 and its 200 day simple moving average is $97.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock has a market capitalization of $50.68 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same period in the previous year, the company earned $1.09 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. 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 report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus decreased their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.69.

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.