Granite Group Advisors LLC Sells 220 Shares of ONEOK, Inc. (NYSE:OKE)

Granite Group Advisors LLC trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,444 shares of the utilities provider’s stock after selling 220 shares during the period. Granite Group Advisors LLC’s holdings in ONEOK were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Kieckhefer Group LLC bought a new position in ONEOK during the 4th quarter worth $30,000. Matrix Trust Co acquired a new position in shares of ONEOK in the 3rd quarter valued at about $29,000. Access Investment Management LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at about $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK in the 3rd quarter valued at about $44,000. Finally, Fortitude Family Office LLC increased its position in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKE. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Down 0.5 %

OKE stock opened at $104.42 on Monday. The business’s 50-day moving average is $106.00 and its two-hundred day moving average is $96.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a market cap of $61.00 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its 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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.95%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is currently 82.85%.

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.