First National Advisers LLC Sells 261 Shares of ONEOK, Inc. (NYSE:OKE)

First National Advisers LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,860 shares of the utilities provider’s stock after selling 261 shares during the quarter. First National Advisers LLC’s holdings in ONEOK were worth $287,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new position in ONEOK in the fourth quarter worth about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK in the fourth quarter worth about $48,000. OFI Invest Asset Management purchased a new position in ONEOK in the fourth quarter worth about $51,000. Finally, Versant Capital Management Inc grew its position in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OKE shares. Scotiabank dropped their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Wells Fargo & Company dropped their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Up 3.2 %

Shares of NYSE OKE opened at $96.52 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $60.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50 day moving average price of $99.21 and a 200 day moving average price of $99.65. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.27%. ONEOK’s payout ratio is 79.69%.

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.