Signaturefd LLC Sells 514 Shares of ONEOK, Inc. (NYSE:OKE)

Signaturefd LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 7,716 shares of the utilities provider’s stock after selling 514 shares during the period. Signaturefd LLC’s holdings in ONEOK were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OKE. OneDigital Investment Advisors LLC increased its holdings in shares of ONEOK by 5.8% during the third quarter. OneDigital Investment Advisors LLC now owns 8,365 shares of the utilities provider’s stock worth $762,000 after purchasing an additional 455 shares during the period. Empowered Funds LLC increased its stake in ONEOK by 8.8% in the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock valued at $901,000 after acquiring an additional 797 shares during the last quarter. Caprock Group LLC increased its stake in ONEOK by 267.5% in the third quarter. Caprock Group LLC now owns 35,101 shares of the utilities provider’s stock valued at $3,199,000 after acquiring an additional 25,549 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock valued at $1,475,000 after acquiring an additional 11,160 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in ONEOK by 8.9% in the third quarter. Banque Cantonale Vaudoise now owns 53,951 shares of the utilities provider’s stock valued at $4,916,000 after acquiring an additional 4,408 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKE shares. Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.31.

ONEOK Price Performance

Shares of NYSE:OKE opened at $100.12 on Thursday. The firm has a market cap of $62.51 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s fifty day moving average is $99.03 and its 200-day moving average is $99.75. 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 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.11%. ONEOK’s payout ratio is presently 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.