Hartford Investment Management Co. is reducing its holdings in ONEOK, Inc. (NYSE:OKE)


Hartford Investment Management Co. decreased its position in shares of ONEOK, Inc. (NYSE:OKE – Get Rating ) by 6.7% during the first quarter, HoldingsChannel reports. The firm owned 42,285 shares of the utilities provider’s stock after selling 3,027 shares during the period. Hartford Investment Management Co.’s holdings. in ONEOK were worth $2,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC raised its stake in shares of ONEOK by 49.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 21,258 shares of the utilities provider’s stock valued at $1,501,000 after buying an additional 6,993 shares during the period. Glassy Mountain Advisors Inc. bought a new stake in shares of ONEOK in the first quarter valued at approximately $445,000. NN Investment Partners Holdings NV boosted its stake in shares of ONEOK by 34.9% in the fourth quarter. NN Investment Partners Holdings NV now owns 349,416 shares of the utilities provider’s stock valued at $20,532,000 after buying an additional 90,402 shares during the period. Column Capital Advisors LLC lifted its stake in shares of ONEOK by 720.2% during the fourth quarter. Column Capital Advisors LLC now owns 1,017 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 893 shares during the period. Finally, Gateway Investment Advisers LLC lifted its stake in shares of ONEOK by 12.0% in the fourth quarter. Gateway Investment Advisers LLC now owns 265,275 shares of the utilities provider’s stock valued at $15,588,000 after purchasing an additional 28,335 shares during the period. Institutional investors own 65.46% of the company’s shares.

Shares of ONEOK stock opened at $56.75 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 2.13. The company’s 50-day moving average is $62.57, and its two-hundred-day moving average is $63.82. ONEOK, Inc. has a 52-week low of $48.51 and a 52-week high of $75.07. The stock has a market cap of $25.35 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.78 and a beta of 1.75.

ONEOK (NYSE:OKE – Get Rating ) last issued its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). ONEOK has a return on equity of 25.33% and a net margin of 8.01%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5 billion. In the same quarter last year, the firm posted earnings of $0.86 per share. On average, equities analysts predict that ONEOK, Inc. will post 3.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were given a $0.935 dividend. This represents a $3.74 annual dividend and a yield of 6.59%. The ex-dividend date was Friday, April 29th. ONEOK’s dividend payout ratio (DPR) is currently 110.98%.

A number of research firms recently issued reports on OKE. Raymond James lifted their price objective on shares of ONEOK from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Royal Bank of Canada upped their target price on shares of ONEOK from $63.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 17th. Wells Fargo & Company decreased their price objective on shares of ONEOK to $71.00 and set an “equal weight” rating for the company in a research note on Friday, May 20th. Morgan Stanley upped their target price on shares of ONEOK from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 26th. Finally, Credit Suisse Group boosted their target price on shares of ONEOK from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, March 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.08, according to MarketBeat.com.

In related news, CEO Piers Norton acquired 8,975 shares of the business’s stock in a transaction on Friday, June 17th. The stock was bought at an average price of $55.54 per share, for a total transaction of $498,471.50. Following the acquisition, the chief executive officer now owns 9,414 shares in the company, valued at $522,853.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. 0.65% of shares are currently owned by insiders.

About ONEOK (Get Rating)

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 facilities in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)



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