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

Birch Capital Management LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,755 shares of the utilities provider’s stock after selling 126 shares during the period. Birch Capital Management LLC’s holdings in ONEOK were worth $1,481,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co bought a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter worth approximately $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $44,000. Finally, Fortitude Family Office LLC lifted its position in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

ONEOK Stock Up 0.6 %

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 market cap of $59.73 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. 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 $67.05 and a 1 year high of $118.07. The company has a fifty day moving average price of $105.10 and a 200 day moving average price of $94.34.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

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

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.