Elevated Capital Advisors LLC Sells 1,284 Shares of ONEOK, Inc. (NYSE:OKE)

Elevated Capital Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.8% in the fourth quarter, Holdings Channel reports. The fund owned 9,633 shares of the utilities provider’s stock after selling 1,284 shares during the quarter. Elevated Capital Advisors LLC’s holdings in ONEOK were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in ONEOK in the 2nd quarter valued at $28,000. Matrix Trust Co bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new stake in ONEOK in the 3rd quarter valued at $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK in the third quarter valued at $44,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

OKE traded up $2.17 during trading hours on Monday, reaching $103.92. The company’s stock had a trading volume of 3,483,123 shares, compared to its average volume of 2,601,676. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The firm has a market cap of $60.71 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. The company’s 50-day moving average is $105.63 and its 200-day moving average is $94.95. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $0.99 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is 82.85%.

Analyst Ratings Changes

A number of research firms have commented on OKE. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $103.00 to $111.00 in a research note on Monday, September 16th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.54.

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.