Birch Capital Management LLC Has $1.48 Million Position in ONEOK, Inc. (NYSE:OKE)

Birch Capital Management LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,755 shares of the utilities provider’s stock after selling 126 shares during the quarter. Birch Capital Management LLC’s holdings in ONEOK were worth $1,481,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of OKE. Regent Peak Wealth Advisors LLC acquired a new position in ONEOK during the fourth quarter worth $207,000. Diversified Trust Co grew its holdings in ONEOK by 40.7% during the fourth quarter. Diversified Trust Co now owns 6,515 shares of the utilities provider’s stock worth $654,000 after purchasing an additional 1,883 shares during the period. Nordea Investment Management AB increased its position in ONEOK by 1,219.3% during the fourth quarter. Nordea Investment Management AB now owns 501,636 shares of the utilities provider’s stock worth $50,289,000 after buying an additional 463,614 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of ONEOK by 4.2% in the fourth quarter. Everence Capital Management Inc. now owns 22,090 shares of the utilities provider’s stock valued at $2,218,000 after buying an additional 890 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of ONEOK by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 12,265 shares of the utilities provider’s stock worth $1,231,000 after acquiring an additional 2,573 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE:OKE traded up $0.62 during mid-day trading on Tuesday, reaching $102.24. The stock had a trading volume of 998,247 shares, compared to its average volume of 2,238,348. The stock has a 50-day simple moving average of $105.10 and a two-hundred day simple moving average of $94.34. 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 12 month low of $67.05 and a 12 month high of $118.07. The stock has a market capitalization of $59.73 billion, a PE ratio of 21.39, a P/E/G ratio of 5.24 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the firm posted $0.99 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.87%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKE. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Barclays lifted their target price on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

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.