Beacon Pointe Advisors LLC Sells 15,318 Shares of ONEOK, Inc. (NYSE:OKE)

Beacon Pointe Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,202 shares of the utilities provider’s stock after selling 15,318 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in ONEOK were worth $27,630,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OKE. Morse Asset Management Inc bought a new stake in shares of ONEOK during the 3rd quarter valued at $346,000. Barclays PLC grew its stake in ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider’s stock worth $172,131,000 after buying an additional 262,486 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $2,258,000. Fulcrum Equity Management boosted its position in shares of ONEOK by 1.1% during the 3rd quarter. Fulcrum Equity Management now owns 46,681 shares of the utilities provider’s stock worth $4,254,000 after acquiring an additional 526 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in ONEOK by 154.1% in the third quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider’s stock valued at $959,000 after acquiring an additional 6,381 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Finally, Barclays decreased their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.42.

ONEOK Trading Up 0.1 %

NYSE:OKE opened at $86.38 on Monday. The stock has a market cap of $53.95 billion, a price-to-earnings ratio of 18.07, 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 company has a 50-day moving average price of $92.03 and a 200-day moving average price of $99.05. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 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 firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.77%. ONEOK’s dividend payout ratio (DPR) is presently 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.