Passumpsic Savings Bank Buys New Stake in ONEOK, Inc. (NYSE:OKE)

Passumpsic Savings Bank bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 8,127 shares of the utilities provider’s stock, valued at approximately $816,000.

A number of other hedge funds have also recently modified their holdings of OKE. Foundations Investment Advisors LLC grew its position in shares of ONEOK by 26.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock valued at $698,000 after buying an additional 1,592 shares during the last quarter. Signaturefd LLC grew its position in shares of ONEOK by 8.1% in the 3rd quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock valued at $750,000 after buying an additional 620 shares during the last quarter. Private Advisor Group LLC grew its position in shares of ONEOK by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 66,819 shares of the utilities provider’s stock valued at $6,089,000 after buying an additional 1,186 shares during the last quarter. Greenleaf Trust grew its position in shares of ONEOK by 1.7% in the 3rd quarter. Greenleaf Trust now owns 9,512 shares of the utilities provider’s stock valued at $867,000 after buying an additional 155 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of 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 during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.6 %

OKE stock opened at $98.07 on Friday. ONEOK, Inc. has a one year low of $72.44 and a one year high of $118.07. The stock has a market capitalization of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a fifty day moving average of $101.19 and a 200-day moving average of $98.65.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Barclays assumed coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective on the stock. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.