QS Investors LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

QS Investors LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.8% in the 2nd quarter, Holdings Channel reports. The firm owned 59,713 shares of the utilities provider’s stock after selling 11,200 shares during the quarter. QS Investors LLC’s holdings in ONEOK were worth $3,323,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Corsicana & Co. purchased a new stake in ONEOK in the second quarter valued at approximately $28,000. O Shaughnessy Asset Management LLC lifted its holdings in ONEOK by 32.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 190 shares during the period. Evermay Wealth Management LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $42,000. Logan Capital Management Inc. acquired a new position in shares of ONEOK during the 1st quarter worth approximately $52,000. Finally, Pflug Koory LLC acquired a new position in shares of ONEOK during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 64.04% of the company’s stock.

Shares of NYSE OKE opened at $63.27 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.68. ONEOK, Inc. has a 1-year low of $26.76 and a 1-year high of $63.51. The business has a 50-day moving average of $54.92 and a 200-day moving average of $53.93. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.66 and a beta of 2.05.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, August 3rd. The utilities provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. ONEOK had a return on equity of 22.30% and a net margin of 11.90%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Research analysts expect that ONEOK, Inc. will post 3.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were paid a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, July 30th. ONEOK’s dividend payout ratio (DPR) is 263.38%.

OKE has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on ONEOK from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Credit Suisse Group increased their price target on ONEOK from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, August 9th. Morgan Stanley increased their price target on ONEOK from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 26th. Sanford C. Bernstein upgraded ONEOK from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research note on Thursday, September 23rd. Finally, Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a research note on Friday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.15.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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