SFE Investment Counsel Trims Holdings in ONEOK, Inc. (NYSE:OKE)

SFE Investment Counsel trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,369 shares of the utilities provider’s stock after selling 7,930 shares during the period. ONEOK makes up about 3.0% of SFE Investment Counsel’s portfolio, making the stock its 6th biggest position. SFE Investment Counsel’s holdings in ONEOK were worth $14,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of OKE. Avestar Capital LLC grew its holdings in ONEOK by 17.2% during the 4th quarter. Avestar Capital LLC now owns 2,771 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 406 shares during the last quarter. MGB Wealth Management LLC boosted its position in shares of ONEOK by 0.9% during the fourth quarter. MGB Wealth Management LLC now owns 37,144 shares of the utilities provider’s stock valued at $3,731,000 after buying an additional 344 shares during the period. Van ECK Associates Corp grew its stake in shares of ONEOK by 3.9% during the fourth quarter. Van ECK Associates Corp now owns 204,614 shares of the utilities provider’s stock valued at $20,544,000 after buying an additional 7,759 shares during the last quarter. Values First Advisors Inc. raised its holdings in shares of ONEOK by 379.4% in the fourth quarter. Values First Advisors Inc. now owns 2,325 shares of the utilities provider’s stock worth $233,000 after buying an additional 1,840 shares during the period. Finally, Davidson Capital Management Inc. raised its holdings in shares of ONEOK by 77.4% in the fourth quarter. Davidson Capital Management Inc. now owns 31,558 shares of the utilities provider’s stock worth $3,168,000 after buying an additional 13,769 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $97.62 on Thursday. The company has a 50 day moving average of $102.23 and a two-hundred day moving average of $97.94. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $68.65 and a twelve month high of $118.07. The company has a market cap of $57.03 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $1.03 dividend. This is a boost 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 dividend yield of 4.22%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report 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 report on Monday. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.