Waterloo Capital L.P. Sells 808 Shares of ONEOK, Inc. (NYSE:OKE)

Waterloo Capital L.P. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,556 shares of the utilities provider’s stock after selling 808 shares during the quarter. Waterloo Capital L.P.’s holdings in ONEOK were worth $3,771,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on OKE shares. Scotiabank lowered their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Price Performance

OKE stock opened at $80.73 on Friday. The company has a market capitalization 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 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 business has a 50-day simple moving average of $97.08 and a two-hundred day simple moving average of $100.26.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.18 billion. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

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

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.