ONEOK, Inc. (NYSE:OKE) Stock Position Reduced by Dividend Assets Capital LLC

Dividend Assets Capital LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,060 shares of the utilities provider’s stock after selling 3,867 shares during the period. ONEOK accounts for approximately 3.8% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 3rd largest position. Dividend Assets Capital LLC’s holdings in ONEOK were worth $19,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the 4th quarter valued at about $30,000. Access Investment Management LLC acquired a new position in ONEOK during the third quarter worth $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC grew its stake in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 0.6 %

ONEOK stock opened at $98.07 on Friday. The company has a market capitalization of $57.29 billion, a P/E ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. 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 fifty-two week low of $72.44 and a fifty-two week high of $118.07. The stock has a 50-day simple moving average of $101.19 and a 200-day simple moving average of $98.65.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.20%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OKE shares. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.