Los Angeles Capital Management LLC Sells 61,515 Shares of ONEOK, Inc. (NYSE:OKE)

Los Angeles Capital Management LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 68.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 27,761 shares of the utilities provider’s stock after selling 61,515 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of OKE. QRG Capital Management Inc. bought a new stake in shares of ONEOK during the 3rd quarter worth $733,000. Envestnet Portfolio Solutions Inc. bought a new stake in ONEOK in the 3rd quarter valued at $469,000. Nordea Investment Management AB boosted its holdings in ONEOK by 42.8% in the 3rd quarter. Nordea Investment Management AB now owns 33,844 shares of the utilities provider’s stock valued at $2,149,000 after purchasing an additional 10,151 shares during the period. FMR LLC boosted its holdings in ONEOK by 7.9% in the 3rd quarter. FMR LLC now owns 549,701 shares of the utilities provider’s stock valued at $34,867,000 after purchasing an additional 40,408 shares during the period. Finally, LPL Financial LLC boosted its holdings in ONEOK by 41.2% in the 3rd quarter. LPL Financial LLC now owns 1,085,477 shares of the utilities provider’s stock valued at $68,852,000 after purchasing an additional 316,664 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 1.4 %

Shares of ONEOK stock opened at $79.88 on Friday. The stock has a market capitalization of $46.62 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 4.35 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a 50-day simple moving average of $79.86 and a 200 day simple moving average of $75.30. ONEOK, Inc. has a 12-month low of $57.37 and a 12-month high of $83.31.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the company posted $2.34 EPS. Research analysts expect that ONEOK, Inc. will post 4.94 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.96%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is presently 92.09%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. UBS Group increased their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. Wells Fargo & Company raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Hold” and an average target price of $84.25.

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.