SG Americas Securities LLC Sells 213,576 Shares of ONEOK, Inc. (NYSE:OKE)

SG Americas Securities LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 92.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,199 shares of the utilities provider’s stock after selling 213,576 shares during the quarter. SG Americas Securities LLC’s holdings in ONEOK were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. National Pension Service grew its stake in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. grew its stake in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares during the last quarter. Sageworth Trust Co purchased a new position in ONEOK in the third quarter valued at about $568,000. Finally, FNY Investment Advisers LLC grew its stake in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after purchasing an additional 21,847 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. UBS Group boosted 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. Finally, Barclays boosted 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. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Price Performance

Shares of NYSE OKE opened at $104.42 on Monday. The business’s 50 day moving average price is $106.00 and its 200 day moving average price is $96.59. The firm has a market cap of $61.00 billion, a P/E ratio of 21.84, a P/E/G ratio of 4.03 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 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) last announced 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 company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, sell-side analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase 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%. ONEOK’s payout ratio is presently 86.19%.

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.