ONEOK, Inc. (NYSE:OKE) Stake Trimmed by Oxbow Advisors LLC

by · The Markets Daily

Oxbow Advisors LLC lowered its stake in ONEOK, Inc. (NYSE:OKE – Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,245 shares of the utilities provider’s stock after selling 240 shares during the quarter. Oxbow Advisors LLC’s holdings in ONEOK were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of OKE. Foundations Investment Advisors LLC increased its stake in ONEOK by 26.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 1,592 shares in the last quarter. Signaturefd LLC boosted its position in ONEOK by 8.1% during the 3rd quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock worth $750,000 after acquiring an additional 620 shares during the period. Private Advisor Group LLC boosted its position in ONEOK by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 66,819 shares of the utilities provider’s stock worth $6,089,000 after acquiring an additional 1,186 shares during the period. Greenleaf Trust boosted its position in ONEOK by 1.7% during the 3rd quarter. Greenleaf Trust now owns 9,512 shares of the utilities provider’s stock worth $867,000 after acquiring an additional 155 shares during the period. Finally, International Assets Investment Management LLC boosted its position in 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 worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.6 %

Shares of OKE stock opened at $98.07 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50 day simple moving average is $101.19 and its 200 day simple moving average is $98.65. The company has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OKE shares. Wolfe Research upgraded 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, February 10th. Barclays started coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a report on Wednesday, December 18th. Finally, Truist Financial lifted 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. 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 stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Get Our Latest Stock Report on OKE

ONEOK Profile

(Free Report)

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.

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