Moran Wealth Management LLC Sells 2,745 Shares of ONEOK, Inc. (NYSE:OKE)

Moran Wealth Management LLC lessened its position in ONEOK, Inc. (NYSE:OKE) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,859 shares of the utilities provider’s stock after selling 2,745 shares during the period. Moran Wealth Management LLC’s holdings in ONEOK were worth $10,528,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OKE. Enterprise Financial Services Corp bought a new stake in ONEOK during the fourth quarter worth about $215,000. Sowell Financial Services LLC boosted its holdings in shares of ONEOK by 5.6% in the 4th quarter. Sowell Financial Services LLC now owns 91,059 shares of the utilities provider’s stock worth $9,142,000 after acquiring an additional 4,818 shares in the last quarter. OFI Invest Asset Management bought a new stake in ONEOK during the 4th quarter worth approximately $51,000. Amundi increased its holdings in ONEOK by 5.3% during the 4th quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock valued at $422,261,000 after purchasing an additional 207,324 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in ONEOK by 3.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,929 shares of the utilities provider’s stock valued at $796,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $89.59 on Monday. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. 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 stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70. The firm has a fifty day moving average of $100.00 and a two-hundred day moving average of $99.46.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for 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%. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.60%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

Analyst Ratings Changes

Several brokerages have recently commented on OKE. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK 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.