Clifford Swan Investment Counsel LLC Sells 794 Shares of ONEOK, Inc. (NYSE:OKE)

Clifford Swan Investment Counsel LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 44,302 shares of the utilities provider’s stock after selling 794 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in ONEOK were worth $4,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of OKE. Astoria Portfolio Advisors LLC. increased its holdings in ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC increased its holdings in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Alliance Wealth Advisors LLC increased its holdings in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after acquiring an additional 100 shares during the period. Mutual Advisors LLC increased its holdings in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA increased its position in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of several research analyst reports. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Stock Up 3.8 %

Shares of NYSE:OKE opened at $100.29 on Friday. The stock’s 50-day moving average price is $100.91 and its 200-day moving average price is $99.19. ONEOK, Inc. has a 12-month low of $74.39 and a 12-month high of $118.07. The stock has a market capitalization of $62.62 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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. 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 analysts’ expectations of $6.18 billion. On average, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.