Yousif Capital Management LLC Sells 7,592 Shares of ONEOK, Inc. (NYSE:OKE)

Yousif Capital Management LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,797 shares of the utilities provider’s stock after selling 7,592 shares during the period. Yousif Capital Management LLC’s holdings in ONEOK were worth $5,393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Peoples Bank KS purchased a new position in ONEOK during the third quarter valued at approximately $25,000. Beacon Capital Management LLC grew its stake in ONEOK by 90.7% during the fourth quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 194 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in ONEOK by 605.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 557 shares of the utilities provider’s stock worth $35,000 after buying an additional 478 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in ONEOK by 283.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 510 shares of the utilities provider’s stock worth $36,000 after buying an additional 377 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its stake in ONEOK by 1,690.9% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 591 shares of the utilities provider’s stock worth $37,000 after buying an additional 558 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research reports. US Capital Advisors cut shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley boosted their price target on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Raymond James upped their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Barclays lifted their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Price Performance

Shares of ONEOK stock opened at $81.38 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The company has a market cap of $47.50 billion, a PE ratio of 14.66, a P/E/G ratio of 4.94 and a beta of 1.65. The business has a 50 day moving average of $77.60 and a 200 day moving average of $71.54. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $81.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter last year, the company posted $1.08 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 4.99 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.87%. ONEOK’s payout ratio is presently 71.35%.

ONEOK declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.