Smart Portfolios LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Smart Portfolios LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,010 shares of the utilities provider’s stock after selling 205 shares during the quarter. Smart Portfolios LLC’s holdings in ONEOK were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in ONEOK by 30.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,100 shares of the utilities provider’s stock valued at $412,000 after purchasing an additional 967 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in ONEOK by 3.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 211,194 shares of the utilities provider’s stock worth $21,204,000 after buying an additional 7,013 shares in the last quarter. PFG Advisors lifted its stake in ONEOK by 3.0% during the fourth quarter. PFG Advisors now owns 6,420 shares of the utilities provider’s stock worth $645,000 after purchasing an additional 188 shares during the period. Inspire Advisors LLC boosted its position in ONEOK by 6.8% in the fourth quarter. Inspire Advisors LLC now owns 22,681 shares of the utilities provider’s stock valued at $2,277,000 after buying an additional 1,447 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in ONEOK by 12.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 12,880 shares of the utilities provider’s stock valued at $1,293,000 after acquiring an additional 1,471 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OKE. Wells Fargo & Company decreased their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Trading Up 1.3 %

NYSE OKE opened at $92.63 on Wednesday. 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 12 month low of $76.23 and a 12 month high of $118.07. The company has a market cap of $57.83 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a 50-day moving average of $99.66 and a 200-day moving average of $99.52.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating 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 firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.45%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 79.69%.

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.