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

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

Several other hedge funds have also bought and sold shares of the business. FNY Investment Advisers LLC raised its stake in shares of ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Kingswood Wealth Advisors LLC raised 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 purchasing an additional 5,321 shares during the last quarter. Simon Quick Advisors LLC bought a new position in shares of ONEOK during the fourth quarter valued at about $251,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in ONEOK by 9.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock worth $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in ONEOK in the 4th quarter worth about $9,483,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE 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 company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap 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 50 day moving average of $97.08 and a 200 day moving average of $100.22.

ONEOK (NYSE:OKE) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business 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 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OKE. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research 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 on the stock in a research report on Thursday, March 6th. Citigroup began coverage on shares of ONEOK in a research report on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Seven equities research 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’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $105.00.

ONEOK 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.