CAP Partners LLC Sells 261 Shares of ONEOK, Inc. (NYSE:OKE)

CAP Partners LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,916 shares of the utilities provider’s stock after selling 261 shares during the period. CAP Partners LLC’s holdings in ONEOK were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kieckhefer Group LLC acquired a new stake in ONEOK in the 4th quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC raised its stake in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $98.65 on Tuesday. The firm has a market cap of $57.63 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.67 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $68.65 and a 1-year high of $118.07. The company has a 50 day moving average of $102.92 and a 200-day moving average of $97.70.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKE. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.92.

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.