Arvest Investments Inc. Decreases Position in ONEOK, Inc. (NYSE:OKE)

Arvest Investments Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,058 shares of the utilities provider’s stock after selling 1,452 shares during the quarter. Arvest Investments Inc.’s holdings in ONEOK were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC boosted its position in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in ONEOK by 57.9% during the fourth 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 in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after acquiring an additional 11,160 shares during the last quarter. Simon Quick Advisors LLC acquired a new position in shares of ONEOK in the fourth quarter worth $251,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of ONEOK by 1.9% in the third quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after acquiring an additional 5,067 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $100.12 on Thursday. The firm has a market capitalization of $62.51 billion, a PE ratio of 20.95, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a 50-day moving average of $99.03 and a two-hundred day moving average of $99.75. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last announced 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. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase 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 dividend yield of 4.11%. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.31.

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.