Signature Estate & Investment Advisors LLC Sells 468 Shares of ONEOK, Inc. (NYSE:OKE)

Signature Estate & Investment Advisors LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,637 shares of the utilities provider’s stock after selling 468 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in ONEOK were worth $265,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. First American Trust FSB purchased a new stake in ONEOK during the fourth quarter worth $224,000. FineMark National Bank & Trust lifted its stake in shares of ONEOK by 3.0% during the 4th quarter. FineMark National Bank & Trust now owns 4,632 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC boosted its position in ONEOK by 70.8% during the fourth quarter. Ashton Thomas Securities LLC now owns 2,156 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 894 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of ONEOK by 217.2% in the 4th quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after buying an additional 845,715 shares in the last quarter. Finally, Modern Wealth Management LLC grew its position in shares of ONEOK by 19.4% in the 4th quarter. Modern Wealth Management LLC now owns 12,025 shares of the utilities provider’s stock worth $1,187,000 after buying an additional 1,952 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 2.5 %

OKE stock opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The firm’s fifty day simple moving average is $98.53 and its 200-day simple moving average is $100.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm 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, equities research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 4.17%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Citigroup assumed coverage on ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Scotiabank decreased their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Finally, Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company 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.