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

Waterloo Capital L.P. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new position in ONEOK during the 4th quarter worth $48,000. VSM Wealth Advisory LLC bought a new stake in shares of ONEOK in the fourth quarter valued at about $50,000. Finally, OFI Invest Asset Management bought a new stake in shares of ONEOK in the fourth quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 12.9 %

Shares of NYSE:OKE opened at $80.73 on Friday. 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 company has a market capitalization of $50.40 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a fifty day moving average of $97.08 and a 200-day moving average of $100.26.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared 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. 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 an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. US Capital Advisors raised 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 on the stock in a report on Friday, March 7th. Seven 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. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.