Moors & Cabot Inc. Sells 9,842 Shares of ONEOK, Inc. (NYSE:OKE)

Moors & Cabot Inc. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 9.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,480 shares of the utilities provider’s stock after selling 9,842 shares during the quarter. Moors & Cabot Inc.’s holdings in ONEOK were worth $9,084,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC raised its holdings in shares of ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the period. Fifth Third Wealth Advisors LLC raised its position in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after acquiring an additional 11,160 shares in the last quarter. Mizuho Securities USA LLC raised its position in ONEOK by 130.3% in the third quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after acquiring an additional 58,649 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in shares of ONEOK during the fourth quarter valued at $251,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.3 %

OKE opened at $92.63 on Wednesday. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.83 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a fifty day moving average price of $99.66 and a 200-day moving average price of $99.52.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.45%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. 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. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.31.

About ONEOK

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.