ONEOK, Inc. (NYSE:OKE) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,480 shares of the utilities provider's stock after selling 9,842 shares during the period. Moors & Cabot Inc.'s holdings in ONEOK were worth $9,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the 4th quarter worth approximately $30,000. Canton Hathaway LLC acquired a new stake in ONEOK during the 4th quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK in the fourth quarter valued at $48,000. OFI Invest Asset Management acquired a new position in ONEOK in the fourth quarter valued at $51,000. Finally, Versant Capital Management Inc increased its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company dropped 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. 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 report on Thursday, March 6th. Citigroup assumed coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective on the stock. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.31.

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ONEOK Trading Up 1.3 %

NYSE:OKE opened at $92.63 on Wednesday. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a market cap of $57.83 billion, a PE ratio of 19.38, a PEG ratio of 3.77 and a beta of 1.70. The firm has a 50-day moving average of $99.66 and a 200-day moving average of $99.52. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The business 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%. As a group, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.45%. 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 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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