State of Alaska Department of Revenue Sells 1,265 Shares of ONEOK, Inc. (NYSE:OKE)

State of Alaska Department of Revenue trimmed its position in ONEOK, Inc. (NYSE:OKE) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,601 shares of the utilities provider’s stock after selling 1,265 shares during the period. State of Alaska Department of Revenue’s holdings in ONEOK were worth $6,686,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Merrion Investment Management Co LLC boosted its position in ONEOK by 33.3% in the third quarter. Merrion Investment Management Co LLC now owns 4,000 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 1,000 shares during the last quarter. Castle Rock Wealth Management LLC boosted its holdings in shares of ONEOK by 18.7% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 8,078 shares of the utilities provider’s stock worth $768,000 after buying an additional 1,271 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in ONEOK by 219.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock valued at $393,000 after buying an additional 2,965 shares during the period. Ritholtz Wealth Management purchased a new stake in ONEOK during the third quarter worth about $206,000. Finally, CHICAGO TRUST Co NA boosted its stake in ONEOK by 97.3% in the third quarter. CHICAGO TRUST Co NA now owns 14,414 shares of the utilities provider’s stock valued at $1,314,000 after acquiring an additional 7,107 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OKE shares. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. 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 report on Wednesday, December 18th. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

ONEOK Trading Down 0.1 %

Shares of OKE stock opened at $95.75 on Friday. ONEOK, Inc. has a 52-week low of $68.21 and a 52-week high of $118.07. The business’s fifty day moving average is $103.28 and its 200 day moving average is $97.41. 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 company has a market capitalization of $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently disclosed 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. 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. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. ONEOK’s payout ratio is presently 82.85%.

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.