ORG Partners LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

ORG Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 91.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396 shares of the utilities provider's stock after selling 4,229 shares during the period. ORG Partners LLC's holdings in ONEOK were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Mindset Wealth Management LLC raised its stake in shares of ONEOK by 0.7% in the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after buying an additional 106 shares during the period. Marcum Wealth LLC raised its stake in shares of ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after buying an additional 108 shares during the period. 1620 Investment Advisors Inc. raised its stake in ONEOK by 1.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock valued at $590,000 after purchasing an additional 112 shares during the period. West Paces Advisors Inc. raised its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock valued at $254,000 after purchasing an additional 114 shares during the period. Finally, Morey & Quinn Wealth Partners LLC raised its stake in ONEOK by 0.8% during the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock valued at $1,560,000 after purchasing an additional 130 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKE. Scotiabank decreased their target price 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. Stifel Nicolaus decreased their target price on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given 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 a consensus price target of $103.69.

ONEOK Price Performance

Shares of ONEOK stock opened at $82.25 on Monday. The stock has a market cap of $51.78 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. The stock has a 50 day moving average price of $83.00 and a 200-day moving average price of $93.00. ONEOK, Inc. has a one year low of $75.48 and a one year high of $118.07.

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 analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter last year, the firm posted $1.09 EPS. Equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is currently 80.47%.

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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.