Wellington Shields Capital Management LLC Sells 833 Shares of ONEOK, Inc. (NYSE:OKE)

Wellington Shields Capital Management LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 46.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 966 shares of the utilities provider’s stock after selling 833 shares during the period. Wellington Shields Capital Management LLC’s holdings in ONEOK were worth $97,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. boosted its holdings in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC lifted its position in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its position in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 104 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on OKE. Barclays decreased their price target on 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 initiated coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 target price 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. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Up 3.2 %

OKE opened at $96.52 on Friday. The stock has a fifty day moving average of $99.21 and a 200-day moving average of $99.49. The company has a market capitalization of $60.26 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two 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.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. On average, equities analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.27%. 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.