ONEOK, Inc. (NYSE:OKE) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,014 shares of the utilities provider’s stock after selling 2,826 shares during the quarter. United Capital Financial Advisors LLC’s holdings in ONEOK were worth $2,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in ONEOK in the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter worth $40,000. J.Safra Asset Management Corp purchased a new position in shares of ONEOK in the fourth quarter valued at $48,000. VSM Wealth Advisory LLC acquired a new stake in ONEOK during the 4th quarter valued at $50,000. Finally, OFI Invest Asset Management purchased a new stake in ONEOK during the 4th quarter worth $51,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OKE shares. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Scotiabank decreased their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Barclays dropped their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.42.

ONEOK Trading Up 1.6 %

Shares of NYSE OKE opened at $86.19 on Friday. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a market cap of $53.84 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $93.64 and its 200 day simple moving average is $99.37.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.78%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

ONEOK Company 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.