Exencial Wealth Advisors LLC Cuts Position in ONEOK, Inc. (NYSE:OKE)

Exencial Wealth Advisors LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,315 shares of the utilities provider’s stock after selling 4,173 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in ONEOK were worth $4,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OKE. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth about $30,000. Canton Hathaway LLC acquired a new stake in ONEOK during the 4th quarter worth about $40,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter worth about $37,000. Versant Capital Management Inc lifted its position in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in ONEOK during the 4th quarter worth about $58,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $93.74 on Wednesday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a 50 day moving average of $100.66 and a two-hundred day moving average of $99.40. 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 firm has a market cap of $58.52 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.40%. ONEOK’s dividend payout ratio is 79.69%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $104.15.

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.