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

ONEOK logo with Energy background

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.

Read Our Latest Stock Analysis on OKE

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

(Free Report)

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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