Burney Co. Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Burney Co. lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 26.2% during the first quarter, Holdings Channel reports. The institutional investor owned 6,226 shares of the utilities provider’s stock after selling 2,214 shares during the quarter. Burney Co.’s holdings in ONEOK were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of OKE. Sheets Smith Wealth Management boosted its holdings in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after purchasing an additional 139 shares during the period. Venturi Wealth Management LLC grew its position in ONEOK by 5.3% during the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock worth $225,000 after buying an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in ONEOK by 4.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 144 shares during the last quarter. Presima Securities ULC raised its holdings in shares of ONEOK by 1.7% in the 4th quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 150 shares in the last quarter. Finally, FourThought Financial Partners LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE traded down $1.89 during midday trading on Friday, hitting $80.17. 3,390,539 shares of the company traded hands, compared to its average volume of 2,238,059. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $86.20. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm has a 50 day moving average of $81.43 and a 200-day moving average of $78.00. The stock has a market cap of $46.79 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the firm posted $2.34 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.02 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.94%. ONEOK’s payout ratio is 92.09%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus upped their target price on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley increased their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. Finally, StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.00.

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.