ONEOK, Inc. (NYSE:OKE) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 17.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,347 shares of the utilities provider’s stock after selling 724 shares during the period. Keudell Morrison Wealth Management’s holdings in ONEOK were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new stake in ONEOK during the fourth quarter worth about $30,000. Matrix Trust Co purchased a new stake in ONEOK during the third quarter worth approximately $29,000. Access Investment Management LLC purchased a new stake in ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. acquired a new stake in ONEOK in the 3rd quarter valued at $44,000. Finally, Fortitude Family Office LLC raised its position in ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OKE. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank assumed 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 for the company. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Price Performance

Shares of NYSE OKE opened at $99.91 on Friday. The company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.81 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve 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 firm has a 50-day moving average of $104.92 and a two-hundred day moving average of $96.97.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

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.