Rafferty Asset Management LLC Sells 4,397 Shares of ONEOK, Inc. (NYSE:OKE)

Rafferty Asset Management LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,748 shares of the utilities provider's stock after selling 4,397 shares during the period. Rafferty Asset Management LLC's holdings in ONEOK were worth $13,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC grew its position in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock worth $1,456,000 after purchasing an additional 5,321 shares during the period. Simon Quick Advisors LLC bought a new stake in ONEOK in the 4th quarter worth approximately $251,000. Sumitomo Mitsui Trust Group Inc. grew its position in ONEOK by 9.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider's stock worth $155,038,000 after purchasing an additional 136,071 shares during the period. Cinctive Capital Management LP bought a new stake in ONEOK in the 4th quarter worth approximately $19,909,000. Finally, Americana Partners LLC grew its position in ONEOK by 258.6% in the 4th quarter. Americana Partners LLC now owns 271,836 shares of the utilities provider's stock worth $27,292,000 after purchasing an additional 196,038 shares during the period. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on OKE. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price target 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. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. 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 stock. Based on data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and an average target price of $104.69.

ONEOK Price Performance

Shares of NYSE:OKE traded down $1.06 during trading on Tuesday, hitting $83.67. 2,485,322 shares of the company's stock were exchanged, compared to its average volume of 3,267,472. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The business's 50-day simple moving average is $88.43 and its 200 day simple moving average is $97.65. The company has a market cap of $52.26 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.92%. 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.