Foster Victor Wealth Advisors LLC Lowers Stake in ONEOK, Inc. (NYSE:OKE)

Foster Victor Wealth Advisors LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,050 shares of the utilities provider’s stock after selling 18,700 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in ONEOK were worth $11,555,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Matrix Trust Co purchased a new position in shares of ONEOK during the third quarter worth approximately $29,000. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter worth approximately $30,000. Access Investment Management LLC purchased a new position in ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. bought a new stake in ONEOK during the 3rd quarter valued at $44,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $100.50 on Wednesday. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 4.03 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50-day simple moving average is $105.51 and its 200-day simple moving average is $96.93. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OKE shares. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, ONEOK 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.