Monarch Capital Management Inc. Sells 300 Shares of ONEOK, Inc. (NYSE:OKE)

Monarch Capital Management Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 15,141 shares of the utilities provider’s stock after selling 300 shares during the quarter. Monarch Capital Management Inc.’s holdings in ONEOK were worth $1,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the third quarter worth about $47,957,000. Yaupon Capital Management LP bought a new stake in ONEOK in the third quarter worth about $45,194,000. Finally, National Bank of Canada FI boosted its stake in ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after acquiring an additional 465,243 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OKE shares. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Finally, UBS Group boosted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Stock Up 0.4 %

OKE opened at $109.08 on Friday. The stock has a market capitalization of $63.72 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. The firm has a 50 day moving average price of $106.17 and a 200-day moving average price of $95.65. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

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.