ONEOK, Inc. (NYSE:OKE) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 14.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,177 shares of the utilities provider’s stock after selling 364 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in ONEOK were worth $219,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $40,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth about $37,000. J.Safra Asset Management Corp purchased a new stake in ONEOK during the fourth quarter worth approximately $48,000. Finally, Versant Capital Management Inc boosted its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKE. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Citigroup began coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price target on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Scotiabank decreased their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Trading Down 0.2 %

NYSE:OKE opened at $89.59 on Friday. 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 stock’s 50 day simple moving average is $100.00 and its 200-day simple moving average is $99.29. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The firm has a market cap of $55.93 billion, a P/E ratio of 18.74, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Equities analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

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

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.