Advantage Trust Co Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

by · The Markets Daily

Advantage Trust Co reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 26.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,227 shares of the utilities provider’s stock after selling 435 shares during the period. Advantage Trust Co’s holdings in ONEOK were worth $123,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OKE. Astoria Portfolio Advisors LLC. increased its position in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC grew its position in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC increased its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its position in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent research reports. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Check Out Our Latest Stock Analysis on OKE

ONEOK Price Performance

Shares of NYSE:OKE opened at $98.07 on Friday. The business has a fifty day simple moving average of $101.19 and a 200 day simple moving average of $98.65. ONEOK, Inc. has a 1 year low of $72.44 and a 1 year high of $118.07. The firm has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend yield of 4.20%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

About ONEOK

(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.

See Also

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