Kentucky Retirement Systems Insurance Trust Fund Sells 9,988 Shares of ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 57.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,305 shares of the utilities provider’s stock after selling 9,988 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ONEOK were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC raised its position in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the period. International Assets Investment Management LLC lifted its stake in ONEOK by 9,439.9% in the third 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 last quarter. Finally, abrdn plc boosted its position in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. Barclays began coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

Shares of OKE opened at $99.02 on Thursday. The company has a 50-day simple moving average of $101.42 and a two-hundred day simple moving average of $98.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.85 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.74 and a beta of 1.70. ONEOK, Inc. has a one year low of $71.50 and a one year high of $118.07.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

ONEOK Company 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.