ONEOK, Inc. (NYSE:OKE) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,956 shares of the utilities provider’s stock after selling 573 shares during the quarter. Mission Wealth Management LP’s holdings in ONEOK were worth $1,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new stake in ONEOK in the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $40,000. Access Investment Management LLC acquired a new stake in ONEOK in the 3rd quarter worth approximately $37,000. Versant Capital Management Inc grew 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 purchasing an additional 260 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in ONEOK during the 4th quarter valued at approximately $58,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $96.57 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a 50 day moving average price of $100.83 and a 200-day moving average price of $99.35. ONEOK, Inc. has a 1-year low of $75.69 and a 1-year high of $118.07. The firm has a market cap of $60.29 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. ONEOK’s dividend payout ratio is presently 79.69%.

Analyst Ratings Changes

OKE has been the subject of several research reports. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Citigroup assumed coverage on ONEOK in a research report on Friday. They set a “buy” rating and a $110.00 price target for the company. UBS Group increased 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. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.15.

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.