Parsons Capital Management Inc. RI Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Parsons Capital Management Inc. RI reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,900 shares of the utilities provider’s stock after selling 167 shares during the period. Parsons Capital Management Inc. RI’s holdings in ONEOK were worth $392,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of OKE. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares in the last quarter. Mutual Advisors LLC grew its holdings in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the last quarter. Morton Capital Management LLC CA increased its position in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its position in shares of ONEOK by 3.9% in the 4th quarter. Bill Few Associates Inc. now owns 2,773 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $100.50 on Wednesday. The stock has a market cap of $58.71 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The business has a 50-day simple moving average of $105.76 and a 200-day simple moving average of $96.82. 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 issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the business earned $0.99 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 82.85%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OKE shares. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Company 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.