ONEOK, Inc. (NYSE:OKE) Holdings Trimmed by Focus Financial Network Inc.

Focus Financial Network Inc. reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,989 shares of the utilities provider’s stock after selling 516 shares during the quarter. Focus Financial Network Inc.’s holdings in ONEOK were worth $1,304,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Astoria Portfolio Advisors LLC. raised 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 valued at $260,000 after buying an additional 96 shares during the period. McAdam LLC increased its holdings in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC lifted its position in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of 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 purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA grew its position in 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 purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday. Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Up 0.3 %

Shares of ONEOK stock opened at $98.98 on Wednesday. ONEOK, Inc. has a 12-month low of $68.65 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average price of $102.68 and a two-hundred day moving average price of $97.82. The stock has a market capitalization of $57.82 billion, a P/E ratio of 20.71, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

About ONEOK

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.