Mutual of America Capital Management LLC Decreases Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Mutual of America Capital Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,974 shares of the utilities provider’s stock after selling 1,939 shares during the period. Mutual of America Capital Management LLC’s holdings in ONEOK were worth $7,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the third quarter valued at about $37,000. Canton Hathaway LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at about $40,000. Versant Capital Management Inc lifted its holdings in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of ONEOK in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $100.29 on Monday. ONEOK, Inc. has a one year low of $74.39 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a 50 day moving average price of $100.91 and a 200 day moving average price of $99.29. The firm has a market capitalization of $62.62 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.11%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OKE. UBS Group upped their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Citigroup began coverage on shares of ONEOK in a report on Friday. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Barclays began coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $104.15.

ONEOK 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.