Ingalls & Snyder LLC Sells 6,743 Shares of ONEOK, Inc. (NYSE:OKE)

Ingalls & Snyder LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,687 shares of the utilities provider’s stock after selling 6,743 shares during the quarter. Ingalls & Snyder LLC’s holdings in ONEOK were worth $4,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter worth $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter worth $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter valued at $44,000. Fortitude Family Office LLC raised its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in ONEOK by 98.1% during 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 in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Down 1.3 %

Shares of OKE stock opened at $97.62 on Thursday. ONEOK, Inc. has a fifty-two week low of $68.65 and a fifty-two week high of $118.07. The stock has a market cap of $57.03 billion, a P/E ratio of 20.42, a P/E/G ratio of 3.67 and a beta of 1.70. The business has a fifty day simple moving average of $102.45 and a 200-day simple moving average of $97.94. 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 will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Analysts Set New Price Targets

Several brokerages have issued reports on OKE. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. 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. Finally, Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Seven research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.