First Foundation Advisors Has $634,000 Stake in ONEOK, Inc. (NYSE:OKE)

First Foundation Advisors lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,316 shares of the utilities provider’s stock after selling 583 shares during the period. First Foundation Advisors’ holdings in ONEOK were worth $634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of ONEOK during the fourth quarter worth $539,554,000. Wellington Management Group LLP increased its holdings in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after purchasing an additional 3,418,207 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ONEOK in the 4th quarter valued at about $182,694,000. ClearBridge Investments Ltd acquired a new position in shares of ONEOK during the fourth quarter worth about $177,045,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of ONEOK by 445.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock worth $153,319,000 after buying an additional 1,246,963 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 4.5 %

Shares of OKE opened at $81.05 on Friday. The firm’s 50-day simple moving average is $94.93 and its 200 day simple moving average is $99.67. 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 cap of $50.62 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share 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 paid a $1.03 dividend. 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 5.08%. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OKE shares. Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Citigroup started coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price for the company. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Wells Fargo & Company decreased their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company 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.