Jennison Associates LLC Sells 54,454 Shares of ONEOK, Inc. (NYSE:OKE)

Jennison Associates LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,816 shares of the utilities provider’s stock after selling 54,454 shares during the quarter. Jennison Associates LLC owned approximately 0.06% of ONEOK worth $37,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter valued at about $47,957,000. Yaupon Capital Management LP purchased a new stake in ONEOK in the third quarter worth about $45,194,000. Finally, National Bank of Canada FI raised its stake in shares of ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. 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 report on Tuesday, December 3rd. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Price Performance

Shares of ONEOK stock opened at $97.03 on Wednesday. The stock has a market cap of $56.68 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. The stock has a 50 day moving average price of $104.24 and a 200-day moving average price of $97.33. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is 82.85%.

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.