ONEOK, Inc. (NYSE:OKE) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 63.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,191 shares of the utilities provider’s stock after selling 48,426 shares during the quarter. Wealthfront Advisers LLC’s holdings in ONEOK were worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Astoria Portfolio Advisors LLC. increased its position in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC grew its stake in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC increased its holdings in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its stake in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after buying an additional 104 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Scotiabank lowered their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company lowered their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays lowered their price objective 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. Finally, Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Up 0.5 %

Shares of ONEOK stock opened at $93.40 on Friday. 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, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The business’s fifty day moving average price is $99.34 and its two-hundred day moving average price is $99.43. The company has a market capitalization of $58.31 billion, a P/E ratio of 19.54, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.