ONEOK, Inc. (NYSE:OKE) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,687 shares of the utilities provider’s stock after selling 6,743 shares during the period. Ingalls & Snyder LLC’s holdings in ONEOK were worth $4,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management acquired a new position in ONEOK during the 3rd quarter worth approximately $206,000. CX Institutional lifted its position in ONEOK by 1.0% during the 3rd quarter. CX Institutional now owns 56,583 shares of the utilities provider’s stock worth $5,156,000 after acquiring an additional 552 shares in the last quarter. Wesbanco Bank Inc. lifted its position in ONEOK by 5.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 10,996 shares of the utilities provider’s stock worth $1,002,000 after acquiring an additional 533 shares in the last quarter. Creative Planning increased its holdings in ONEOK by 3.2% during the 3rd quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock worth $21,965,000 after purchasing an additional 7,467 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in ONEOK during the 3rd quarter worth approximately $216,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment 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, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Price Performance

Shares of OKE stock opened at $97.62 on Thursday. The stock has a 50 day moving average of $102.45 and a two-hundred day moving average of $97.94. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $68.65 and a 12 month high of $118.07. The company has a market capitalization of $57.03 billion, a P/E ratio of 20.42, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.22%. ONEOK’s dividend payout ratio is presently 86.19%.

About ONEOK

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.