First National Advisers LLC Cuts Holdings in ONEOK, Inc. (NYSE:OKE)

First National Advisers LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,860 shares of the utilities provider’s stock after selling 261 shares during the period. First National Advisers LLC’s holdings in ONEOK were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC purchased a new stake in ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the 4th quarter valued at $48,000. OFI Invest Asset Management purchased a new stake in ONEOK during the 4th quarter valued at $51,000. Finally, Versant Capital Management Inc boosted its stake in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $96.52 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business’s 50-day simple moving average is $99.21 and its two-hundred day simple moving average is $99.65. The stock has a market cap of $60.26 billion, a PE ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

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

Analyst Ratings Changes

Several brokerages have commented on OKE. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup began coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

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.