ONEOK, Inc. $OKE Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 26.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,815 shares of the utilities provider’s stock after selling 6,929 shares during the period. Burling Wealth Partners LLC’s holdings in ONEOK were worth $1,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. NewEdge Wealth LLC increased its stake in shares of ONEOK by 1.2% in the third quarter. NewEdge Wealth LLC now owns 13,446 shares of the utilities provider’s stock worth $981,000 after buying an additional 158 shares during the last quarter. Essex Financial Services Inc. grew its holdings in ONEOK by 10.7% during the 3rd quarter. Essex Financial Services Inc. now owns 4,756 shares of the utilities provider’s stock worth $347,000 after acquiring an additional 458 shares in the last quarter. Cercano Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth about $216,000. Syon Capital LLC raised its stake in shares of ONEOK by 13.9% in the 3rd quarter. Syon Capital LLC now owns 12,550 shares of the utilities provider’s stock valued at $916,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its position in shares of ONEOK by 23.6% during the third quarter. Advisors Capital Management LLC now owns 759,241 shares of the utilities provider’s stock worth $55,402,000 after purchasing an additional 145,060 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $86.77 on Thursday. The firm has a fifty day moving average of $76.46 and a 200-day moving average of $73.53. The company has a market cap of $54.60 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 4.86 and a beta of 0.96. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a $1.07 dividend. The ex-dividend date was Monday, February 2nd. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. ONEOK’s dividend payout ratio (DPR) is 78.68%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus set a $94.00 price objective on ONEOK in a report on Thursday, October 30th. Citigroup decreased their target price on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Scotiabank reiterated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, November 6th. Finally, UBS Group decreased their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.80.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.