Peregrine Asset Advisers Inc. Sells 62,139 Shares of ONEOK, Inc. (NYSE:OKE)

Peregrine Asset Advisers Inc. cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 62.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,591 shares of the utilities provider’s stock after selling 62,139 shares during the period. ONEOK comprises approximately 1.4% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 23rd biggest position. Peregrine Asset Advisers Inc.’s holdings in ONEOK were worth $3,674,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC bought a new position in shares of ONEOK during the third quarter valued at $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC lifted its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc increased its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $98.07 on Friday. The firm has a market capitalization of $57.29 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.80 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07. The company has a fifty day moving average of $101.19 and a 200-day moving average of $98.65. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.