ONEOK, Inc. (NYSE:OKE) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,708 shares of the utilities provider’s stock after selling 358 shares during the period. SeaBridge Investment Advisors LLC’s holdings in ONEOK were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Matrix Trust Co acquired a new position in ONEOK in the 3rd quarter valued at $29,000. Kieckhefer Group LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter worth about $37,000. Values First Advisors Inc. acquired a new position in ONEOK during the third quarter worth about $44,000. Finally, Fortitude Family Office LLC grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 2.9 %

OKE stock opened at $96.95 on Friday. The company’s 50 day moving average price is $104.51 and its 200 day moving average price is $97.06. The firm has a market capitalization of $56.64 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s payout ratio is 82.85%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OKE. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.