Dakota Wealth Management Sells 3,541 Shares of ONEOK, Inc. (NYSE:OKE)

Dakota Wealth Management reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 29.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,510 shares of the utilities provider’s stock after selling 3,541 shares during the period. Dakota Wealth Management’s holdings in ONEOK were worth $854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Matrix Trust Co purchased a new position in shares of ONEOK in the 3rd quarter worth about $29,000. Kieckhefer Group LLC bought a new stake in ONEOK in the 4th quarter worth approximately $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter worth approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK during the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC raised its stake in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $104.42 on Friday. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The stock has a market capitalization of $61.00 billion, a P/E ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. The company’s 50-day moving average is $106.11 and its 200 day moving average is $96.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter last year, the company posted $0.99 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 3.95%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OKE. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Bank of America started coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.92.

About ONEOK

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.