Naples Global Advisors LLC Has $339,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Naples Global Advisors LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,379 shares of the utilities provider’s stock after selling 683 shares during the quarter. Naples Global Advisors LLC’s holdings in ONEOK were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in ONEOK by 3.9% in the third 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 grew its stake in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its stake 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 valued at $341,844,000 after purchasing an additional 11,189 shares in the last quarter. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc grew its stake in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OKE shares. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Finally, Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Price Performance

Shares of NYSE OKE opened at $97.96 on Friday. The stock has a market capitalization of $57.23 billion, a PE ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. 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 fifty day moving average price of $102.01 and a two-hundred day moving average price of $97.94. ONEOK, Inc. has a fifty-two week low of $69.01 and a fifty-two week high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.21%. ONEOK’s payout ratio is currently 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.