Hartford Investment Management Co. Has $3.64 Million Stake in ONEOK, Inc. (NYSE:OKE)

Hartford Investment Management Co. lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,266 shares of the utilities provider’s stock after selling 702 shares during the period. Hartford Investment Management Co.’s holdings in ONEOK were worth $3,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Values First Advisors Inc. bought a new stake in ONEOK during the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC increased its position in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $97.62 on Thursday. The business has a 50-day simple moving average of $102.45 and a 200 day simple moving average of $97.94. ONEOK, Inc. has a one year low of $68.65 and a one year 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 $57.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on OKE shares. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday. Barclays assumed coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

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.