Cornerstone Wealth Management LLC Sells 116 Shares of ONEOK, Inc. (NYSE:OKE)

Cornerstone Wealth Management LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,204 shares of the utilities provider’s stock after selling 116 shares during the period. Cornerstone Wealth Management LLC’s holdings in ONEOK were worth $1,627,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OKE. Matrix Trust Co purchased a new position in shares of ONEOK during the 3rd quarter valued at about $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the 4th quarter valued at about $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK during the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK during the 3rd quarter valued at about $44,000. Finally, Fortitude Family Office LLC raised its holdings in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.5 %

Shares of NYSE OKE opened at $104.42 on Friday. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The stock has a market cap of $61.00 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.70. The firm has a 50-day moving average of $106.11 and a 200 day moving average of $96.34. 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) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.99 earnings per share. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Analyst Ratings Changes

OKE has been the topic of a number of research reports. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price target on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.