ONEOK, Inc. (NYSE:OKE) Shares Sold by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,574 shares of the utilities provider’s stock after selling 123 shares during the period. Blackston Financial Advisory Group LLC’s holdings in ONEOK were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC grew 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 buying an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 3.9% in the third 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 acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK during the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP bought a new stake in ONEOK during the third quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC lifted its position in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after purchasing an additional 489,821 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Down 0.6 %

OKE stock opened at $98.07 on Friday. The company’s 50 day simple moving average is $101.19 and its 200-day simple moving average is $98.65. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market capitalization of $57.29 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.80 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost 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.