Wedbush Securities Inc. Has $1.52 Million Stake in ONEOK, Inc. (NYSE:OKE)

Wedbush Securities Inc. reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,102 shares of the utilities provider’s stock after selling 204 shares during the period. Wedbush Securities Inc.’s holdings in ONEOK were worth $1,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Canton Hathaway LLC bought a new position in ONEOK during the fourth quarter worth about $40,000. J.Safra Asset Management Corp bought a new position in ONEOK during the fourth quarter worth about $48,000. VSM Wealth Advisory LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $50,000. Finally, OFI Invest Asset Management bought a new stake in shares of ONEOK in the 4th quarter valued at about $51,000. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank lowered 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. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Seven investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Down 12.9 %

NYSE:OKE opened at $80.73 on Friday. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The firm has a market capitalization of $50.40 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. 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 stock’s 50 day moving average price is $97.08 and its two-hundred day moving average price is $100.26.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 5.10%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.