Mercer Global Advisors Inc. ADV Lowers Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Mercer Global Advisors Inc. ADV reduced its position in ONEOK, Inc. (NYSE:OKE) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,172 shares of the utilities provider’s stock after selling 6,791 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in ONEOK were worth $7,848,000 at the end of the most recent quarter.

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

ONEOK Trading Up 2.3 %

Shares of OKE stock opened at $82.77 on Friday. The stock has a market capitalization of $51.70 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.77 and a beta of 1.20. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $90.67 and its 200 day moving average is $98.62. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.09 EPS. Research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company cut their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley raised their price target on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, 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. Seven 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.62.

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.