Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in ONEOK, Inc. (NYSE:OKE)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Atria Wealth Solutions Inc. grew its stake in shares of ONEOK by 30.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 90,525 shares of the utilities provider’s stock worth $9,089,000 after acquiring an additional 20,882 shares during the last quarter. Venturi Wealth Management LLC grew its position in ONEOK by 102.3% during the 4th quarter. Venturi Wealth Management LLC now owns 6,489 shares of the utilities provider’s stock valued at $652,000 after purchasing an additional 3,281 shares during the last quarter. D.A. Davidson & CO. increased its stake in ONEOK by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 155,220 shares of the utilities provider’s stock valued at $15,584,000 after purchasing an additional 2,937 shares in the last quarter. Empower Advisory Group LLC raised its holdings in ONEOK by 11.7% in the fourth quarter. Empower Advisory Group LLC now owns 3,932 shares of the utilities provider’s stock worth $395,000 after buying an additional 413 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of ONEOK by 2.4% in the fourth quarter. CIBC Asset Management Inc now owns 102,470 shares of the utilities provider’s stock worth $10,288,000 after buying an additional 2,401 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective on the stock. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, 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 report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Trading Up 0.4 %

NYSE:OKE opened at $99.02 on Thursday. ONEOK, Inc. has a one year low of $71.50 and a one year high of $118.07. The business has a fifty day moving average price of $101.42 and a 200-day moving average price of $98.51. The firm has a market capitalization of $57.85 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.74 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 Increases Dividend

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

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.