Signature Estate & Investment Advisors LLC Sells 468 Shares of ONEOK, Inc. (NYSE:OKE)

Signature Estate & Investment Advisors LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,637 shares of the utilities provider’s stock after selling 468 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in ONEOK were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in OKE. Dynamic Technology Lab Private Ltd purchased a new position in ONEOK during the third quarter valued at $990,000. FMR LLC grew its position in shares of ONEOK by 11.7% during the third quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock valued at $106,797,000 after purchasing an additional 122,362 shares in the last quarter. Avestar Capital LLC bought a new stake in shares of ONEOK in the third quarter worth about $216,000. Townsquare Capital LLC lifted its position in shares of ONEOK by 6.7% in the third quarter. Townsquare Capital LLC now owns 107,342 shares of the utilities provider’s stock worth $9,782,000 after buying an additional 6,767 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in ONEOK during the third quarter valued at approximately $47,957,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKE shares. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. 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 objective for the company. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Price Performance

Shares of OKE stock opened at $98.76 on Friday. The stock has a 50 day moving average price of $98.53 and a 200 day moving average price of $100.07. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. 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 firm has a market capitalization of $61.66 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results 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 return on equity of 16.84% and a net margin of 14.05%. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed 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. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 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.