Choreo LLC Sells 2,274 Shares of ONEOK, Inc. (NYSE:OKE)

Choreo LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,307 shares of the utilities provider’s stock after selling 2,274 shares during the period. Choreo LLC’s holdings in ONEOK were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Merrion Investment Management Co LLC boosted its stake in ONEOK by 33.3% in the 3rd quarter. Merrion Investment Management Co LLC now owns 4,000 shares of the utilities provider’s stock valued at $365,000 after buying an additional 1,000 shares in the last quarter. Castle Rock Wealth Management LLC boosted its stake in ONEOK by 18.7% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 8,078 shares of the utilities provider’s stock valued at $768,000 after buying an additional 1,271 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in ONEOK by 219.6% in the 3rd 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 in the last quarter. Ritholtz Wealth Management acquired a new stake in ONEOK in the 3rd quarter valued at $206,000. Finally, CHICAGO TRUST Co NA boosted its stake in ONEOK by 97.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 14,414 shares of the utilities provider’s stock valued at $1,314,000 after buying an additional 7,107 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OKE shares. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $103.42.

ONEOK Trading Down 0.1 %

OKE stock opened at $95.75 on Friday. The company has a market cap of $55.94 billion, a P/E ratio of 20.03, a PEG ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $68.21 and a twelve 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 business has a fifty day moving average of $103.28 and a 200-day moving average of $97.41.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 82.85%.

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.