Retirement Investment Advisors Inc. Sells 152 Shares of ONEOK, Inc. (NYSE:OKE)

Retirement Investment Advisors Inc. lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,336 shares of the utilities provider’s stock after selling 152 shares during the period. ONEOK makes up about 0.2% of Retirement Investment Advisors Inc.’s portfolio, making the stock its 22nd largest holding. Retirement Investment Advisors Inc.’s holdings in ONEOK were worth $1,439,000 as of its most recent SEC filing.

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

ONEOK Stock Performance

Shares of ONEOK stock opened at $98.47 on Friday. The stock has a market cap of $61.48 billion, a price-to-earnings ratio of 20.60, a P/E/G 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. The company’s fifty day moving average is $98.32 and its 200 day moving average is $100.17. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 79.69%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Finally, 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. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.