Oarsman Capital Inc. Has $62,000 Stake in ONEOK, Inc. (NYSE:OKE)

Oarsman Capital Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 17.6% in the fourth quarter, HoldingsChannel reports. The fund owned 613 shares of the utilities provider’s stock after selling 131 shares during the period. Oarsman Capital Inc.’s holdings in ONEOK were worth $62,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OKE. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter valued at about $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management bought a new stake in shares of ONEOK during the fourth quarter worth $51,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $80.73 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market cap of $50.40 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The business’s fifty day moving average is $97.08 and its 200-day moving average is $100.30.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OKE shares. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Morgan Stanley boosted their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.