Wealthspire Advisors LLC Sells 30,327 Shares of ONEOK, Inc. (NYSE:OKE)

Wealthspire Advisors LLC reduced its stake in ONEOK, Inc. (NYSE:OKE) by 58.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,752 shares of the utilities provider’s stock after selling 30,327 shares during the period. Wealthspire Advisors LLC’s holdings in ONEOK were worth $2,158,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Greenline Partners LLC purchased a new stake in shares of ONEOK in the fourth quarter worth about $32,000. First Pacific Financial bought a new position in shares of ONEOK during the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in ONEOK in the fourth quarter worth $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in ONEOK during the first quarter valued at $39,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OKE. Wells Fargo & Company reduced their target price on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the company a “sector outperform” rating in a research note on Tuesday, July 15th. Royal Bank Of Canada decreased their price target on ONEOK from $100.00 to $94.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Finally, Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.57.

ONEOK Stock Down 0.5%

Shares of NYSE:OKE opened at $75.31 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average is $81.17 and its 200 day moving average is $88.12. The stock has a market cap of $47.41 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. ONEOK, Inc. has a 52-week low of $74.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%. During the same quarter in the prior year, the company earned $1.33 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK’s dividend payout ratio is presently 80.47%.

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.