Kovitz Investment Group Partners LLC Cuts Position in ONEOK, Inc. (NYSE:OKE)

Kovitz Investment Group Partners LLC lessened its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,541 shares of the utilities provider's stock after selling 33,160 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in ONEOK were worth $16,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OKE. Hancock Whitney Corp increased its stake in shares of ONEOK by 7.8% in the 4th quarter. Hancock Whitney Corp now owns 5,196 shares of the utilities provider's stock valued at $522,000 after purchasing an additional 376 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of ONEOK by 5.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 25,091 shares of the utilities provider's stock worth $2,519,000 after buying an additional 1,267 shares during the period. Burling Wealth Partners LLC purchased a new position in shares of ONEOK during the 4th quarter valued at approximately $3,177,000. Evercore Wealth Management LLC lifted its position in shares of ONEOK by 18.2% during the 4th quarter. Evercore Wealth Management LLC now owns 2,739 shares of the utilities provider's stock valued at $275,000 after buying an additional 422 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of ONEOK by 116.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 5,550 shares of the utilities provider's stock valued at $559,000 after buying an additional 2,980 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Trading Down 6.6 %

OKE traded down $5.76 on Wednesday, hitting $82.10. The company had a trading volume of 5,749,630 shares, compared to its average volume of 3,202,896. The firm has a market cap of $51.28 billion, a P/E ratio of 17.18, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company's fifty day moving average price is $91.59 and its 200 day moving average price is $98.91. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid 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 5.02%. ONEOK's dividend payout ratio (DPR) is presently 79.69%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OKE shares. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research 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. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and a consensus target price of $106.25.

ONEOK Company 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.