Smith Moore & CO. Sells 678 Shares of ONEOK, Inc. (NYSE:OKE)

Smith Moore & CO. lowered its position in ONEOK, Inc. (NYSE:OKE) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,887 shares of the utilities provider’s stock after selling 678 shares during the quarter. Smith Moore & CO.’s holdings in ONEOK were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Arete Wealth Advisors LLC grew its stake in shares of ONEOK by 50.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 19,329 shares of the utilities provider’s stock valued at $1,941,000 after buying an additional 6,454 shares during the last quarter. Disciplined Investors L.L.C. bought a new position in ONEOK during the 4th quarter worth approximately $293,000. OneAscent Financial Services LLC grew its position in ONEOK by 116.4% during the 4th quarter. OneAscent Financial Services LLC now owns 7,517 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 4,044 shares during the last quarter. Cinctive Capital Management LP bought a new stake in ONEOK in the fourth quarter valued at approximately $19,909,000. Finally, Meeder Advisory Services Inc. boosted its stake in shares of ONEOK by 8.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 12,264 shares of the utilities provider’s stock valued at $1,231,000 after purchasing an additional 934 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Barclays decreased 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, March 7th. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective 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 research 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. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Stock Performance

Shares of ONEOK stock opened at $80.73 on Friday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The firm has a market capitalization of $50.40 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.77 and a beta of 1.20. 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 business has a fifty day simple moving average of $97.08 and a two-hundred day simple moving average of $100.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is currently 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.