ONEOK, Inc. (NYSE:OKE) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,503 shares of the utilities provider’s stock after selling 1,184 shares during the period. Geneos Wealth Management Inc.’s holdings in ONEOK were worth $4,167,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Matrix Trust Co purchased a new position in ONEOK during the 3rd quarter worth $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC acquired a new position in ONEOK in the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the 3rd quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC lifted its position in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Down 0.5 %

Shares of NYSE OKE opened at $104.42 on Friday. The firm’s 50-day moving average is $106.00 and its two-hundred day moving average is $96.50. The company has a market capitalization of $61.00 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. 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 (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company posted $0.99 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 3.95%. ONEOK’s payout ratio is presently 82.85%.

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.