Hartford Investment Management Co. Sells 702 Shares of ONEOK, Inc. (NYSE:OKE)

Hartford Investment Management Co. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,266 shares of the utilities provider’s stock after selling 702 shares during the quarter. Hartford Investment Management Co.’s holdings in ONEOK were worth $3,641,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OKE. Ritholtz Wealth Management acquired a new stake in shares of ONEOK during the 3rd quarter worth about $206,000. CX Institutional raised its holdings in ONEOK by 1.0% in the 3rd quarter. CX Institutional now owns 56,583 shares of the utilities provider’s stock valued at $5,156,000 after acquiring an additional 552 shares during the period. Wesbanco Bank Inc. lifted its position in ONEOK by 5.1% during the third quarter. Wesbanco Bank Inc. now owns 10,996 shares of the utilities provider’s stock worth $1,002,000 after acquiring an additional 533 shares during the last quarter. Creative Planning boosted its holdings in shares of ONEOK by 3.2% during the third quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock worth $21,965,000 after acquiring an additional 7,467 shares during the period. Finally, Magnus Financial Group LLC bought a new stake in shares of ONEOK during the third quarter worth approximately $216,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OKE shares. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Trading Down 1.3 %

Shares of OKE opened at $97.62 on Thursday. 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, Inc. has a 52-week low of $68.65 and a 52-week high of $118.07. The firm has a market cap of $57.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.67 and a beta of 1.70. The business’s fifty day moving average is $102.45 and its 200-day moving average is $97.94.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.22%. ONEOK’s payout ratio is presently 86.19%.

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.