Ferguson Wellman Capital Management Inc. Sells 146 Shares of ONEOK, Inc. (NYSE:OKE)

Ferguson Wellman Capital Management Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,210 shares of the utilities provider’s stock after selling 146 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in ONEOK were worth $925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter valued at $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK in the 3rd quarter worth $44,000. Fortitude Family Office LLC boosted its position in shares of ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Trading Up 3.0 %

OKE stock opened at $98.65 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $68.65 and a 12-month high of $118.07. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.67 and a beta of 1.70. The business’s 50-day moving average is $102.92 and its 200 day moving average is $97.70.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Monday, February 3rd. ONEOK’s payout ratio is currently 86.19%.

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.