Silvercrest Asset Management Group LLC Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

Silvercrest Asset Management Group LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 23.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,590 shares of the utilities provider's stock after selling 7,231 shares during the period. Silvercrest Asset Management Group LLC's holdings in ONEOK were worth $2,368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $32,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $48,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Citigroup cut their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, 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 research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.00.

ONEOK Price Performance

ONEOK stock opened at $84.71 on Tuesday. The firm has a fifty day moving average of $88.43 and a 200-day moving average of $97.65. The firm has a market capitalization of $52.91 billion, a P/E ratio of 17.72, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. 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 results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the previous year, the business posted $1.09 earnings per share. As a group, analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's payout ratio is 80.47%.

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.

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