ONEOK, Inc. (NYSE:OKE) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,472 shares of the utilities provider’s stock after selling 396 shares during the quarter. Dana Investment Advisors Inc.’s holdings in ONEOK were worth $349,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OKE. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK in the third quarter valued at $47,957,000. National Pension Service boosted its holdings in ONEOK by 65.3% in the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after acquiring an additional 498,908 shares during the last quarter. Yaupon Capital Management LP acquired a new position in ONEOK in the third quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC boosted its holdings in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after acquiring an additional 489,821 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday. 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. Scotiabank reduced their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday. Citigroup began coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Stock Down 0.2 %

Shares of NYSE OKE opened at $89.59 on Monday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm has a market cap 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 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’s 50-day simple moving average is $100.00 and its 200-day simple moving average is $99.46.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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

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.