Garner Asset Management Corp Sells 836 Shares of ONEOK, Inc. (NYSE:OKE)

Garner Asset Management Corp reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,802 shares of the utilities provider’s stock after selling 836 shares during the quarter. ONEOK comprises 1.0% of Garner Asset Management Corp’s holdings, making the stock its 25th largest holding. Garner Asset Management Corp’s holdings in ONEOK were worth $2,189,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its position in shares of ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares during the period. Simon Quick Advisors LLC bought a new position in shares of ONEOK during the 4th quarter worth about $251,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 valued at $155,038,000 after buying an additional 136,071 shares during the period. Finally, Contravisory Investment Management Inc. bought a new stake in ONEOK in the 4th quarter valued at about $9,483,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on OKE shares. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank dropped their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Seven equities 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. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Up 1.5 %

OKE opened at $82.44 on Friday. The company’s 50-day moving average price is $94.64 and its two-hundred day moving average price is $99.59. 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, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07. The stock has a market cap of $51.49 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is currently 79.69%.

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.