Concurrent Investment Advisors LLC Sells 9,743 Shares of ONEOK, Inc. (NYSE:OKE)

Concurrent Investment Advisors LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,228 shares of the utilities provider’s stock after selling 9,743 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in ONEOK were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OKE. Foundations Investment Advisors LLC increased its position in ONEOK by 26.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock valued at $698,000 after purchasing an additional 1,592 shares during the period. Signaturefd LLC boosted its stake in shares of ONEOK by 8.1% during the 3rd quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock valued at $750,000 after purchasing an additional 620 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of ONEOK during the third quarter valued at about $237,000. Private Advisor Group LLC raised its stake in ONEOK by 1.8% in the third quarter. Private Advisor Group LLC now owns 66,819 shares of the utilities provider’s stock worth $6,089,000 after buying an additional 1,186 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in ONEOK by 48.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 15,426 shares of the utilities provider’s stock worth $1,406,000 after buying an additional 5,005 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays initiated coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Finally, Wolfe Research raised 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 note on Monday, February 10th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Stock Down 0.6 %

OKE opened at $98.65 on Friday. The company has a fifty day moving average of $101.31 and a two-hundred day moving average of $98.51. The stock has a market capitalization of $57.63 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $71.85 and a fifty-two week high of $118.07. 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 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.