Cowa LLC Has $5.54 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Cowa LLC lowered its stake in ONEOK, Inc. (NYSE:OKE) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 55,206 shares of the utilities provider’s stock after selling 3,887 shares during the quarter. ONEOK accounts for 2.5% of Cowa LLC’s portfolio, making the stock its 10th biggest position. Cowa LLC’s holdings in ONEOK were worth $5,543,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring 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% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Finally, abrdn plc raised its holdings 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 valued at $195,545,000 after acquiring an additional 277,514 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKE shares. 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. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the stock 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 objective for the company. in a report on Wednesday, December 18th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Seven 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 stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Price Performance

NYSE OKE 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 stock has a 50-day moving average of $101.19 and a 200 day moving average of $98.65. The company has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. 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 dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is currently 86.19%.

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.