ONEOK, Inc. (NYSE:OKE) Holdings Lowered by WESPAC Advisors LLC

WESPAC Advisors LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,310 shares of the utilities provider’s stock after selling 813 shares during the quarter. ONEOK comprises 0.9% of WESPAC Advisors LLC’s holdings, making the stock its 25th biggest position. WESPAC Advisors LLC’s holdings in ONEOK were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% during the 3rd 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 purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its position in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the last quarter. abrdn plc grew its position in ONEOK by 14.8% in 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 last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in shares of ONEOK by 15.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after buying an additional 263,545 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKE. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays assumed coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective on the stock. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Trading Down 0.6 %

NYSE OKE opened at $98.07 on Friday. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The firm’s fifty day simple moving average is $101.19 and its 200-day simple moving average is $98.76.

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 a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 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.