Moran Wealth Management LLC Sells 2,745 Shares of ONEOK, Inc. (NYSE:OKE)

Moran Wealth Management LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 104,859 shares of the utilities provider’s stock after selling 2,745 shares during the quarter. Moran Wealth Management LLC’s holdings in ONEOK were worth $10,528,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC bought a new position in ONEOK during the 3rd quarter worth about $37,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK in the fourth quarter valued at about $48,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the fourth quarter worth about $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OKE shares. Wolfe Research raised 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 lowered their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday. Barclays cut their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. 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 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Price Performance

Shares of NYSE OKE opened at $89.59 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 moving average price is $100.00 and its two-hundred day moving average price is $99.46. The company has a market cap of $55.93 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last posted 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 business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.