ONEOK, Inc. (NYSE:OKE) Stock Position Cut by SFE Investment Counsel

SFE Investment Counsel lessened its stake in ONEOK, Inc. (NYSE:OKE) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,369 shares of the utilities provider’s stock after selling 7,930 shares during the period. ONEOK makes up approximately 3.0% of SFE Investment Counsel’s holdings, making the stock its 6th largest position. SFE Investment Counsel’s holdings in ONEOK were worth $14,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. raised its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of ONEOK during the 3rd quarter worth $47,957,000. Yaupon Capital Management LP bought a new stake in shares of ONEOK during the 3rd quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC increased its stake in shares of ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after purchasing an additional 489,821 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on OKE shares. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday. Finally, US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Stock Performance

NYSE:OKE opened at $97.62 on Thursday. The company has a market cap of $57.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $68.65 and a 1 year high of $118.07. The stock’s 50 day simple moving average is $102.23 and its two-hundred day simple moving average is $97.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.22%. ONEOK’s dividend 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.