ONEOK, Inc. (NYSE:OKE) Shares Sold by Mosaic Financial Group LLC

Mosaic Financial Group LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,874 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Mosaic Financial Group LLC’s holdings in ONEOK were worth $891,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Franklin Resources Inc. grew its position in shares of ONEOK by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 225,780 shares of the utilities provider’s stock worth $22,668,000 after acquiring an additional 5,626 shares in the last quarter. Summit Financial LLC boosted its holdings in ONEOK by 551.4% in the fourth quarter. Summit Financial LLC now owns 30,838 shares of the utilities provider’s stock worth $3,096,000 after purchasing an additional 26,104 shares during the period. Wellington Management Group LLP raised its holdings in shares of ONEOK by 433.4% during the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after purchasing an additional 3,418,207 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of ONEOK by 19.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 71,355 shares of the utilities provider’s stock worth $7,164,000 after buying an additional 11,506 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of ONEOK by 1.7% in the 4th quarter. Clearbridge Investments LLC now owns 1,976,864 shares of the utilities provider’s stock valued at $198,477,000 after buying an additional 32,484 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of NYSE OKE opened at $99.28 on Tuesday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a fifty day moving average price of $98.12 and a two-hundred day moving average price of $100.30. The firm has a market cap of $61.98 billion, a P/E ratio of 20.77, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (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 analyst estimates of $6.18 billion. Research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.15%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 79.69%.

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.