ONEOK, Inc. (NYSE:OKE) Shares Sold by Allen Capital Group LLC

Allen Capital Group LLC decreased its stake in ONEOK, Inc. (NYSE:OKE) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the utilities provider’s stock after selling 188 shares during the period. Allen Capital Group LLC’s holdings in ONEOK were worth $2,841,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Matrix Trust Co acquired a new stake in ONEOK during the third quarter valued at $29,000. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new stake in ONEOK during the third quarter valued at approximately $37,000. Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC lifted its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKE shares. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Barclays lifted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Performance

Shares of OKE opened at $101.62 on Wednesday. The company has a market capitalization of $59.36 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The company’s fifty day moving average price is $105.51 and its 200 day moving average price is $96.93. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.05%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.