Principal Financial Group Inc. Trims Position in ONEOK, Inc. (NYSE:OKE)

Principal Financial Group Inc. cut its holdings in ONEOK, Inc. (NYSE:OKE) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 700,357 shares of the utilities provider’s stock after selling 9,957 shares during the period. Principal Financial Group Inc.’s holdings in ONEOK were worth $70,316,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Blue Trust Inc. increased its stake in ONEOK by 138.6% in the third quarter. Blue Trust Inc. now owns 5,838 shares of the utilities provider’s stock valued at $532,000 after purchasing an additional 3,391 shares during the last quarter. OLD National Bancorp IN lifted its holdings in shares of ONEOK by 5.4% during the 3rd quarter. OLD National Bancorp IN now owns 3,917 shares of the utilities provider’s stock worth $357,000 after acquiring an additional 200 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of ONEOK by 26.2% in the third quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock worth $698,000 after acquiring an additional 1,592 shares during the last quarter. Signaturefd LLC grew its holdings in ONEOK by 8.1% in the third quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock valued at $750,000 after purchasing an additional 620 shares during the period. Finally, Eastern Bank acquired a new position in ONEOK during the third quarter worth approximately $1,220,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.4 %

NYSE:OKE opened at $99.02 on Thursday. The stock has a market cap of $57.85 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.74 and a beta of 1.70. ONEOK, Inc. has a one year low of $71.50 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 business’s 50-day simple moving average is $101.42 and its 200 day simple moving average is $98.51.

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 paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is 86.19%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Barclays started coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.