abrdn plc Sells 81,457 Shares of ONEOK, Inc. (NYSE:OKE)

abrdn plc lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,068,219 shares of the utilities provider’s stock after selling 81,457 shares during the period. abrdn plc’s holdings in ONEOK were worth $207,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Alliance Wealth Advisors LLC UT increased its holdings in shares of ONEOK by 1.1% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 39,912 shares of the utilities provider’s stock valued at $4,007,000 after acquiring an additional 418 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in shares of ONEOK by 1.5% in the 4th quarter. Hodges Capital Management Inc. now owns 149,128 shares of the utilities provider’s stock worth $14,973,000 after purchasing an additional 2,221 shares during the period. Catalina Capital Group LLC grew its position in shares of ONEOK by 4.9% during the 4th quarter. Catalina Capital Group LLC now owns 4,080 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 190 shares during the period. Adamsbrown Wealth Consultants LLC lifted its position in shares of ONEOK by 2.5% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 15,504 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 374 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $923,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on OKE shares. Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Scotiabank initiated coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Price Performance

Shares of ONEOK stock opened at $97.65 on Tuesday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month 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 business has a 50 day simple moving average of $104.51 and a two-hundred day simple moving average of $97.23. The stock has a market capitalization of $57.05 billion, a P/E ratio of 20.43, a PEG ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

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.