Cigna Investments Inc. New Has $599,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Cigna Investments Inc. New trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,974 shares of the utilities provider’s stock after selling 139 shares during the quarter. Cigna Investments Inc. New’s holdings in ONEOK were worth $599,000 at the end of the most recent reporting period.

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

ONEOK Stock Performance

Shares of OKE stock opened at $98.65 on Tuesday. The firm has a 50-day moving average of $102.92 and a 200-day moving average of $97.70. The company has a market cap of $57.63 billion, a P/E ratio of 20.64, a P/E/G ratio of 3.67 and a beta of 1.70. 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, Inc. has a one year low of $68.65 and a one year high of $118.07.

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 issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays assumed 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. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.