Truist Financial Corp Has $27.80 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Truist Financial Corp lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,852 shares of the utilities provider’s stock after selling 9,347 shares during the period. Truist Financial Corp’s holdings in ONEOK were worth $27,796,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OKE. CIBC Asset Management Inc boosted its holdings in 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 acquiring an additional 2,401 shares in the last quarter. Pittenger & Anderson Inc. bought a new position in ONEOK in the fourth quarter worth approximately $100,000. Highview Capital Management LLC DE boosted its holdings in ONEOK by 8.8% in the fourth quarter. Highview Capital Management LLC DE now owns 12,245 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 987 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in ONEOK by 0.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 150,432 shares of the utilities provider’s stock worth $15,103,000 after acquiring an additional 726 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in ONEOK by 0.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 211,793 shares of the utilities provider’s stock worth $21,264,000 after acquiring an additional 1,225 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $98.57 on Wednesday. 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 business has a fifty day simple moving average of $101.64 and a two-hundred day simple moving average of $98.38. ONEOK, Inc. has a 1 year low of $71.50 and a 1 year high of $118.07. The company has a market capitalization of $57.58 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKE shares. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Mizuho upgraded ONEOK to a “hold” rating in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.