Fisher Asset Management LLC Sells 11,337 Shares of ONEOK, Inc. (NYSE:OKE)

Fisher Asset Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 60.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,413 shares of the utilities provider’s stock after selling 11,337 shares during the quarter. Fisher Asset Management LLC’s holdings in ONEOK were worth $521,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in ONEOK by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock valued at $3,757,405,000 after purchasing an additional 5,525,010 shares during the period. Norges Bank bought a new position in ONEOK in the 4th quarter valued at $297,948,000. Deutsche Bank AG grew its stake in ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Blackstone Inc. grew its stake in ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the period. Finally, International Assets Investment Management LLC grew its stake in ONEOK by 5,247.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,463,929 shares of the utilities provider’s stock valued at $173,017,000 after purchasing an additional 2,417,849 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $79.88 on Monday. The firm has a market capitalization of $46.62 billion, a P/E ratio of 18.58, a P/E/G 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 stock’s 50-day simple moving average is $79.86 and its two-hundred day simple moving average is $75.39. ONEOK, Inc. has a twelve month low of $57.37 and a twelve 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 for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the prior year, the company earned $2.34 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho upped their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Barclays upped their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Morgan Stanley upped their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.25.

About ONEOK

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.