ONEOK, Inc. (NYSE:OKE) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,137 shares of the utilities provider’s stock after selling 553 shares during the quarter. Kentucky Retirement Systems’ holdings in ONEOK were worth $4,030,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Geode Capital Management LLC grew its position in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $103.92.

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 company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s fifty day moving average is $101.19 and its 200 day moving average is $98.65. The firm has a market cap of $57.29 billion, a PE 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 dividend of $1.03 per share. The ex-dividend date was 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 4.20%. ONEOK’s dividend payout ratio (DPR) is 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.