Focus Partners Wealth Has $12.31 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Focus Partners Wealth reduced its stake in ONEOK, Inc. (NYSE:OKE) by 52.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,574 shares of the utilities provider’s stock after selling 136,382 shares during the quarter. Focus Partners Wealth’s holdings in ONEOK were worth $12,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the fourth quarter worth approximately $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in ONEOK in the fourth quarter worth approximately $39,000. Canton Hathaway LLC bought a new stake in ONEOK in the fourth quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the fourth quarter worth approximately $48,000. Finally, VSM Wealth Advisory LLC bought a new stake in ONEOK in the fourth quarter worth approximately $50,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 3.2%

Shares of ONEOK stock opened at $84.95 on Tuesday. The stock has a fifty day simple moving average of $88.96 and a 200 day simple moving average of $97.98. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a market capitalization of $53.06 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm posted $1.09 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 4.85%. ONEOK’s dividend payout ratio is currently 80.47%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. Barclays lowered their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Wells Fargo & Company decreased their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Citigroup decreased their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Scotiabank decreased their price objective on ONEOK from $101.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 29th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.