RWA Wealth Partners LLC Sells 229 Shares of ONEOK, Inc. (NYSE:OKE)

RWA Wealth Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,937 shares of the utilities provider’s stock after selling 229 shares during the quarter. RWA Wealth Partners LLC’s holdings in ONEOK were worth $3,709,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of ONEOK by 11.7% during the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider’s stock worth $106,797,000 after buying an additional 122,362 shares in the last quarter. Fiduciary Trust Co boosted its stake in shares of ONEOK by 41.6% in the 3rd quarter. Fiduciary Trust Co now owns 8,038 shares of the utilities provider’s stock valued at $733,000 after purchasing an additional 2,363 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in ONEOK by 1.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,137 shares of the utilities provider’s stock worth $25,070,000 after purchasing an additional 5,067 shares in the last quarter. Captrust Financial Advisors lifted its stake in ONEOK by 0.3% in the 3rd quarter. Captrust Financial Advisors now owns 100,222 shares of the utilities provider’s stock valued at $9,133,000 after purchasing an additional 297 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in ONEOK by 4.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 200 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $98.47 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $98.32 and a 200-day moving average price of $100.24. The company has a market cap of $61.48 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last posted 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share 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 paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OKE shares. Morgan Stanley raised their price objective on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, Citigroup initiated coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Seven investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.