Pitcairn Co. Has $511,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Pitcairn Co. lowered its stake in ONEOK, Inc. (NYSE:OKE) by 18.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,091 shares of the utilities provider’s stock after selling 1,179 shares during the quarter. Pitcairn Co.’s holdings in ONEOK were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. FNY Investment Advisers LLC boosted its holdings 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 buying an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in ONEOK during the 4th quarter worth approximately $251,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in ONEOK by 9.7% in the fourth 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 in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $9,483,000. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Barclays dropped their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. 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 report on Monday, February 10th. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 price target for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Down 12.9 %

ONEOK stock opened at $80.73 on Friday. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The firm has a market capitalization of $50.40 billion, a PE ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. The company’s 50-day moving average is $97.08 and its 200-day moving average is $100.26. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 5.10%. ONEOK’s dividend payout ratio is presently 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.