Western Wealth Management LLC Sells 7,274 Shares of ONEOK, Inc. (NYSE:OKE)

Western Wealth Management LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,670 shares of the utilities provider's stock after selling 7,274 shares during the period. Western Wealth Management LLC's holdings in ONEOK were worth $368,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Helium Advisors LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $240,000. Fourth Dimension Wealth LLC bought a new position in ONEOK in the fourth quarter worth about $106,000. Breed s Hill Capital LLC grew its holdings in ONEOK by 16.4% in the fourth quarter. Breed s Hill Capital LLC now owns 3,106 shares of the utilities provider's stock worth $312,000 after purchasing an additional 438 shares during the last quarter. Vise Technologies Inc. lifted its holdings in shares of ONEOK by 68.3% during the fourth quarter. Vise Technologies Inc. now owns 13,682 shares of the utilities provider's stock worth $1,374,000 after purchasing an additional 5,554 shares during the period. Finally, Retirement Planning Group LLC boosted its position in ONEOK by 7.1% in the fourth quarter. Retirement Planning Group LLC now owns 11,355 shares of the utilities provider's stock valued at $1,140,000 after buying an additional 757 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Barclays dropped their price objective 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. Scotiabank lowered their price target on shares of ONEOK from $100.00 to $96.00 and set a "sector outperform" rating on the stock in a report on Tuesday, May 20th. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley raised their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.69.

ONEOK Trading Down 1.2%

Shares of NYSE:OKE traded down $0.93 during mid-day trading on Thursday, hitting $79.66. The stock had a trading volume of 1,357,359 shares, compared to its average volume of 3,277,475. The company has a market cap of $49.76 billion, a PE ratio of 16.67, a P/E/G ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. The company's 50 day moving average is $86.12 and its 200-day moving average is $96.74.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm posted $1.09 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.17%. ONEOK's payout ratio is presently 80.47%.

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.