ONEOK, Inc. (NYSE:OKE) Shares Sold by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. cut its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,938 shares of the utilities provider's stock after selling 27,449 shares during the quarter. ONEOK makes up 1.9% of Andrew Hill Investment Advisors Inc.'s portfolio, making the stock its 23rd largest holding. Andrew Hill Investment Advisors Inc.'s holdings in ONEOK were worth $2,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Astoria Portfolio Advisors LLC. lifted its position in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after acquiring an additional 96 shares during the last quarter. McAdam LLC increased its position in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its position in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC grew its position in shares of ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its position in shares of ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 104 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on OKE shares. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wells Fargo & Company cut 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. 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 for the company. Scotiabank lowered 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 report on Thursday, March 6th. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.00.

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ONEOK Trading Up 7.6 %

Shares of NYSE OKE opened at $84.68 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The business has a fifty day simple moving average of $95.26 and a 200-day simple moving average of $99.77. The company has a market cap of $52.89 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 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 business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.87%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's dividend 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.

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