Cypress Capital Group Sells 5,158 Shares of ONEOK, Inc. (NYSE:OKE)

Cypress Capital Group reduced its position in ONEOK, Inc. (NYSE:OKE) by 44.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,433 shares of the utilities provider’s stock after selling 5,158 shares during the period. Cypress Capital Group’s holdings in ONEOK were worth $646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of ONEOK by 4.3% during the third quarter. Farther Finance Advisors LLC now owns 7,592 shares of the utilities provider’s stock valued at $692,000 after buying an additional 313 shares during the period. Janney Montgomery Scott LLC increased its position in shares of ONEOK by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 187,696 shares of the utilities provider’s stock valued at $17,105,000 after buying an additional 3,139 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of ONEOK by 50.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 151,844 shares of the utilities provider’s stock valued at $13,838,000 after buying an additional 50,808 shares during the period. National Pension Service increased its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of ONEOK by 6.5% during the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock valued at $541,000 after buying an additional 364 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Barclays assumed coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $104.15.

ONEOK Stock Down 2.0 %

Shares of OKE opened at $91.95 on Thursday. The firm has a market cap of $57.40 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.77 and a beta of 1.70. The stock has a 50 day simple moving average of $100.45 and a two-hundred day simple moving average of $99.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07.

ONEOK (NYSE:OKE) last issued 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. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

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.