Voloridge Investment Management LLC Reduces Position in ONEOK, Inc. (NYSE:OKE)

Voloridge Investment Management LLC lessened its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 43.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,264 shares of the utilities provider's stock after selling 148,345 shares during the quarter. Voloridge Investment Management LLC's holdings in ONEOK were worth $19,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in ONEOK in the 4th quarter worth $39,000. Canton Hathaway LLC purchased a new position in ONEOK in the 4th quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the fourth quarter worth $48,000. Finally, VSM Wealth Advisory LLC purchased a new stake in ONEOK during the fourth quarter valued at about $50,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Wells Fargo & Company lowered their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Scotiabank decreased their target price on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 20th. Finally, Citigroup dropped their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $104.69.

ONEOK Stock Up 0.6%

Shares of OKE traded up $0.51 during mid-day trading on Tuesday, reaching $81.65. The company had a trading volume of 1,911,439 shares, compared to its average volume of 3,277,386. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The firm has a 50-day moving average price of $86.88 and a 200 day moving average price of $96.96. 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 released 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). 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 the consensus estimate of $8.23 billion. During the same period last year, the firm posted $1.09 earnings per share. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 dividend yield of 5.05%. The ex-dividend date was Monday, May 5th. ONEOK's payout ratio is 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.