ONEOK, Inc. (NYSE:OKE) Shares Sold by Barnett & Company Inc.

Barnett & Company Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,516 shares of the utilities provider’s stock after selling 300 shares during the period. ONEOK makes up 3.8% of Barnett & Company Inc.’s portfolio, making the stock its 8th biggest holding. Barnett & Company Inc.’s holdings in ONEOK were worth $5,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of OKE. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth $30,000. Canton Hathaway LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in ONEOK during the 4th quarter worth about $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK in the fourth quarter worth approximately $50,000. Finally, OFI Invest Asset Management acquired a new position in shares of ONEOK during the 4th quarter valued at $51,000. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

NYSE:OKE opened at $99.45 on Monday. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07. The stock has a fifty day moving average of $98.94 and a 200 day moving average of $99.92. 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 firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts expect 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 79.69%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Scotiabank cut their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seven equities research 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 stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $103.31.

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.