Ferguson Wellman Capital Management Inc. Sells 146 Shares of ONEOK, Inc. (NYSE:OKE)

Ferguson Wellman Capital Management Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,210 shares of the utilities provider’s stock after selling 146 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in ONEOK were worth $925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at approximately $30,000. Access Investment Management LLC purchased a new stake in ONEOK during the third quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter valued at approximately $44,000. Fortitude Family Office LLC raised its position in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc raised its position in ONEOK by 98.1% during 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 during the period. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OKE shares. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Trading Up 3.0 %

OKE opened at $98.65 on Tuesday. The stock’s fifty day moving average is $102.92 and its two-hundred day moving average is $97.70. The company has a market capitalization of $57.63 billion, a P/E ratio of 20.64, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $68.65 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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 issued a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.