First Trust Advisors LP Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

First Trust Advisors LP lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,055,104 shares of the utilities provider's stock after selling 60,728 shares during the period. First Trust Advisors LP owned about 0.18% of ONEOK worth $105,932,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. lifted its position in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after purchasing an additional 96 shares during the period. McAdam LLC lifted its holdings in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares during the period. Alliance Wealth Advisors LLC boosted its position in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after acquiring an additional 100 shares during the last quarter. Mutual Advisors LLC grew its holdings in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA raised its position in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock worth $734,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE:OKE traded up $0.10 during trading on Friday, reaching $86.38. The company's stock had a trading volume of 1,831,798 shares, compared to its average volume of 3,176,697. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The firm has a market cap of $53.95 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The firm has a 50 day moving average of $92.03 and a 200-day moving average of $98.99. 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 (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Monday, May 5th. ONEOK's dividend payout ratio is currently 79.69%.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Citigroup initiated coverage on shares of ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Morgan Stanley boosted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Finally, 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. Seven equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $106.42.

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.