Trajan Wealth LLC Sells 3,814 Shares of ONEOK, Inc. (NYSE:OKE)

Trajan Wealth LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,295 shares of the utilities provider's stock after selling 3,814 shares during the quarter. Trajan Wealth LLC's holdings in ONEOK were worth $5,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Vanguard Group Inc. increased its stake in ONEOK by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after acquiring an additional 934,007 shares in the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock worth $1,405,697,000 after purchasing an additional 357,015 shares in the last quarter. Norges Bank purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $539,554,000. Finally, Wellington Management Group LLP raised its position in ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after buying an additional 3,418,207 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on OKE. Scotiabank lowered their target price on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wolfe Research upgraded 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. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.42.

ONEOK Stock Up 1.6 %

Shares of NYSE OKE opened at $86.19 on Friday. The business has a 50-day simple moving average of $93.39 and a two-hundred day simple moving average of $99.37. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The company has a market cap of $53.84 billion, a P/E ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20. 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 (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. 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 4.78%. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

ONEOK Company Profile

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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