Monarch Capital Management Inc. decreased its position in shares of Oneok Partners LP (NYSE:OKS) by 9.7% during the first quarter, Holdings Channel reports. The fund owned 5,100 shares of the pipeline company’s stock after selling 550 shares during the period. Monarch Capital Management Inc.’s holdings in Oneok Partners were worth $275,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKS. Alps Advisors Inc. raised its position in Oneok Partners by 2.4% in the third quarter. Alps Advisors Inc. now owns 10,043,916 shares of the pipeline company’s stock worth $401,254,000 after buying an additional 235,469 shares during the last quarter. Oxbow Advisors LLC raised its position in Oneok Partners by 306.7% in the third quarter. Oxbow Advisors LLC now owns 277,925 shares of the pipeline company’s stock worth $11,103,000 after buying an additional 209,590 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Oneok Partners during the third quarter worth about $5,119,000. HITE Hedge Asset Management LLC purchased a new position in Oneok Partners during the third quarter worth about $362,000. Finally, GHP Investment Advisors Inc. raised its position in Oneok Partners by 8.6% in the third quarter. GHP Investment Advisors Inc. now owns 12,219 shares of the pipeline company’s stock worth $488,000 after buying an additional 966 shares during the last quarter. 36.68% of the stock is owned by hedge funds and other institutional investors.
Oneok Partners LP (NYSE:OKS) traded down 0.44% during mid-day trading on Friday, hitting $52.45. 695,072 shares of the company were exchanged. The stock has a market cap of $14.99 billion, a P/E ratio of 23.30 and a beta of 0.56. Oneok Partners LP has a 12-month low of $33.78 and a 12-month high of $57.41. The company has a 50 day moving average of $53.08 and a 200 day moving average of $46.47.
Oneok Partners (NYSE:OKS) last announced its quarterly earnings results on Monday, February 27th. The pipeline company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. The firm earned $2.65 billion during the quarter, compared to analyst estimates of $2.59 billion. Oneok Partners had a net margin of 9.72% and a return on equity of 16.75%. During the same quarter in the prior year, the business earned ($0.33) earnings per share. On average, equities research analysts expect that Oneok Partners LP will post $2.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be given a $0.79 dividend. The ex-dividend date is Thursday, April 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.02%. Oneok Partners’s dividend payout ratio is 239.40%.
A number of research analysts have issued reports on the stock. BMO Capital Markets set a $53.00 target price on shares of Oneok Partners and gave the company a “hold” rating in a research note on Saturday, April 1st. Guggenheim assumed coverage on shares of Oneok Partners in a research note on Monday. They set a “neutral” rating and a $53.00 target price for the company. Zacks Investment Research raised shares of Oneok Partners from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, March 14th. US Capital Advisors lowered shares of Oneok Partners from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 15th. Finally, Credit Suisse Group AG raised shares of Oneok Partners from a “neutral” rating to an “outperform” rating and set a $55.00 target price for the company in a research note on Thursday, February 2nd. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Oneok Partners currently has an average rating of “Hold” and a consensus price target of $45.50.
About Oneok Partners
ONEOK Partners, L.P. is engaged in gathering, processing, storage and transportation of natural gas in the United States. In addition, the Company owns natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent, Permian and Rocky Mountain regions. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.
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