Smart Portfolios LLC Sells 205 Shares of ONEOK, Inc. (NYSE:OKE)

Smart Portfolios LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,010 shares of the utilities provider’s stock after selling 205 shares during the quarter. Smart Portfolios LLC’s holdings in ONEOK were worth $503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kieckhefer Group LLC bought a new position in ONEOK in the fourth quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the 4th quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK during the 4th quarter worth $48,000. OFI Invest Asset Management acquired a new position in ONEOK during the 4th quarter worth about $51,000. Finally, Versant Capital Management Inc grew its holdings in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays decreased their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Trading Up 1.3 %

NYSE:OKE opened at $92.63 on Wednesday. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.83 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The business’s 50-day moving average is $99.66 and its two-hundred day moving average is $99.52.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for 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%. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.45%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) 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.