ONEOK, Inc. (NYSE:OKE) Shares Sold by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.4% during the fourth quarter, HoldingsChannel reports. The fund owned 45,819 shares of the utilities provider’s stock after selling 5,338 shares during the period. ONEOK comprises approximately 3.7% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 4th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in ONEOK were worth $4,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. boosted its position in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC grew its holdings in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares during the last quarter. Mutual Advisors LLC increased its position in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares in the last quarter. Morton Capital Management LLC CA boosted its stake in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 104 shares during the last quarter. Finally, HM Payson & Co. lifted its holdings in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $97.84 on Thursday. The stock has a 50-day simple moving average of $103.62 and a 200-day simple moving average of $97.42. The firm has a market cap of $57.16 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 3.69 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, Inc. has a 1 year low of $67.67 and a 1 year high of $118.07.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKE. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.92.

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.