Louisiana State Employees Retirement System Sells 1,500 Shares of ONEOK, Inc. (NYSE:OKE)

Louisiana State Employees Retirement System reduced its stake in ONEOK, Inc. (NYSE:OKE) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,400 shares of the utilities provider’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in ONEOK were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. TCV Trust & Wealth Management Inc. lifted its stake in ONEOK by 91.6% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 5,856 shares of the utilities provider’s stock worth $588,000 after purchasing an additional 2,800 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in ONEOK during the fourth quarter worth $615,000. International Private Wealth Advisors LLC lifted its stake in ONEOK by 49.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 5,831 shares of the utilities provider’s stock worth $585,000 after purchasing an additional 1,942 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in ONEOK during the fourth quarter worth $205,000. Finally, Savant Capital LLC lifted its stake in ONEOK by 5.3% during the fourth quarter. Savant Capital LLC now owns 8,599 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 436 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $98.86 on Friday. The company has a market capitalization of $57.75 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $68.65 and a twelve month high of $118.07. The stock has a fifty day simple moving average of $102.23 and a 200 day simple moving average of $97.94. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.17%. This is an increase 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 is presently 86.19%.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Wolfe Research upgraded 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. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven equities research 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 data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.