Farther Finance Advisors LLC Has $703,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Farther Finance Advisors LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,998 shares of the utilities provider’s stock after selling 594 shares during the period. Farther Finance Advisors LLC’s holdings in ONEOK were worth $703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aptus Capital Advisors LLC grew its position in ONEOK by 13.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 4,433 shares of the utilities provider’s stock worth $404,000 after acquiring an additional 518 shares during the last quarter. Empower Advisory Group LLC grew its holdings in shares of ONEOK by 18.0% during the third quarter. Empower Advisory Group LLC now owns 3,519 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 536 shares during the last quarter. Pinnacle Financial Partners Inc bought a new position in ONEOK in the 3rd quarter valued at approximately $215,000. Oppenheimer Asset Management Inc. boosted its position in ONEOK by 7.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 34,361 shares of the utilities provider’s stock worth $3,131,000 after buying an additional 2,408 shares during the period. Finally, KBC Group NV grew its holdings in ONEOK by 0.8% during the 3rd quarter. KBC Group NV now owns 45,383 shares of the utilities provider’s stock worth $4,136,000 after acquiring an additional 376 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays cut their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Scotiabank dropped their price target 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. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Stock Performance

Shares of ONEOK stock opened at $96.52 on Friday. The business has a 50-day simple moving average of $99.21 and a 200 day simple moving average of $99.57. ONEOK, Inc. has a one year low of $76.23 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $60.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued 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. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. On average, 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 announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.27%. ONEOK’s payout ratio is presently 79.69%.

ONEOK 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.