Modera Wealth Management LLC Sells 123 Shares of ONEOK, Inc. (NYSE:OKE)

Modera Wealth Management LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,560 shares of the utilities provider’s stock after selling 123 shares during the period. Modera Wealth Management LLC’s holdings in ONEOK were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares during the last quarter. Janus Henderson Group PLC raised its position in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the period. Chickasaw Capital Management LLC lifted its stake in shares of ONEOK by 15.2% in the 4th quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after purchasing an additional 263,545 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of ONEOK by 16.1% in the 3rd quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after purchasing an additional 262,486 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. 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 on the stock. Finally, UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $104.15.

ONEOK Stock Down 3.1 %

Shares of NYSE OKE opened at $93.74 on Wednesday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The firm has a market capitalization of $58.52 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50 day moving average price of $100.66 and a 200 day moving average price of $99.40. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. 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 4.40%. ONEOK’s dividend payout ratio (DPR) is 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.