Wakefield Asset Management LLLP Decreases Holdings in ONEOK, Inc. (OKE)

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Wakefield Asset Management LLLP trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 39.0% during the fourth quarter, HoldingsChannel reports. The firm owned 34,827 shares of the utilities provider’s stock after selling 22,237 shares during the quarter. Wakefield Asset Management LLLP’s holdings in ONEOK were worth $1,879,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service increased its holdings in ONEOK by 4.3% in the fourth quarter. National Pension Service now owns 487,551 shares of the utilities provider’s stock valued at $32,510,000 after buying an additional 20,003 shares during the last quarter. Capital Financial Planning LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $30,000. Covington Capital Management grew its holdings in shares of ONEOK by 46.3% during the fourth quarter. Covington Capital Management now owns 585 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of ONEOK by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,458,574 shares of the utilities provider’s stock worth $132,640,000 after purchasing an additional 101,959 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of ONEOK by 60.4% during the fourth quarter. IHT Wealth Management LLC now owns 9,253 shares of the utilities provider’s stock worth $499,000 after purchasing an additional 3,486 shares during the last quarter. Institutional investors own 75.65% of the company’s stock.

In related news, Director Eduardo A. Rodriguez sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the director now owns 15,536 shares in the company, valued at $1,037,028. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

NYSE:OKE traded down $0.58 during mid-day trading on Monday, reaching $68.43. The stock had a trading volume of 4,810 shares, compared to its average volume of 3,040,149. The company has a quick ratio of 0.46, a current ratio of 0.66 and a debt-to-equity ratio of 1.35. The company has a market cap of $28.22 billion, a P/E ratio of 24.62, a PEG ratio of 2.02 and a beta of 1.22. ONEOK, Inc. has a twelve month low of $50.26 and a twelve month high of $71.99.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 25th. The utilities provider reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). ONEOK had a net margin of 9.14% and a return on equity of 17.10%. During the same quarter last year, the company posted $0.53 earnings per share. Analysts expect that ONEOK, Inc. will post 2.97 EPS for the current year.

Several equities analysts have issued reports on OKE shares. SunTrust Banks started coverage on ONEOK in a report on Friday, January 18th. They set a “buy” rating and a $72.00 price objective on the stock. Evercore ISI started coverage on ONEOK in a report on Tuesday, February 5th. They set a $68.00 price objective on the stock. Barclays set a $66.00 price objective on ONEOK and gave the stock a “hold” rating in a report on Wednesday, January 16th. US Capital Advisors reaffirmed a “buy” rating on shares of ONEOK in a report on Wednesday, January 16th. Finally, Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $71.21.

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About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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