Focus Partners Wealth Sells 136,382 Shares of ONEOK, Inc. (NYSE:OKE)

Focus Partners Wealth cut its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 52.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,574 shares of the utilities provider's stock after selling 136,382 shares during the period. Focus Partners Wealth's holdings in ONEOK were worth $12,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after purchasing an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after purchasing an additional 934,007 shares during the period. Geode Capital Management LLC lifted its position in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp lifted its position in ONEOK by 15.2% during the 4th quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after purchasing an additional 864,392 shares during the period. Finally, Norges Bank acquired a new position in ONEOK during the 4th quarter valued at about $539,554,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.7%

OKE traded down $0.62 during trading on Thursday, reaching $85.99. 3,276,667 shares of the stock were exchanged, compared to its average volume of 3,259,765. The stock has a market cap of $53.71 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock's 50 day moving average price is $88.84 and its two-hundred day moving average price is $97.83. 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 (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 analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a yield of 4.79%. ONEOK's dividend payout ratio (DPR) is 80.47%.

Analysts Set New Price Targets

A number of analysts recently weighed in on OKE shares. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Scotiabank cut their price target on shares of ONEOK from $101.00 to $100.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 29th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Finally, Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Seven research 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, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $105.00.

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.