ONEOK, Inc. (NYSE:OKE) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC cut its position in ONEOK, Inc. (NYSE:OKE) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,991 shares of the utilities provider’s stock after selling 285 shares during the quarter. NewEdge Wealth LLC’s holdings in ONEOK were worth $1,304,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares during the last quarter. Chickasaw Capital Management LLC grew its position in shares of ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock worth $200,031,000 after buying an additional 263,545 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after buying an additional 262,486 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OKE has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. 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. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven investment 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’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Trading Up 3.8 %

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

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share 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 company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. ONEOK’s dividend payout ratio is presently 79.69%.

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.