ONEOK, Inc. (NYSE:OKE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in ONEOK, Inc. (NYSE:OKE) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 700,357 shares of the utilities provider’s stock after selling 9,957 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of ONEOK worth $70,316,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of ONEOK by 138.6% during the third quarter. Blue Trust Inc. now owns 5,838 shares of the utilities provider’s stock worth $532,000 after acquiring an additional 3,391 shares during the last quarter. OLD National Bancorp IN grew its position in ONEOK by 5.4% during the 3rd quarter. OLD National Bancorp IN now owns 3,917 shares of the utilities provider’s stock worth $357,000 after purchasing an additional 200 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of ONEOK by 26.2% in the third quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock valued at $698,000 after buying an additional 1,592 shares during the last quarter. Signaturefd LLC boosted its stake in shares of ONEOK by 8.1% during the third quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock worth $750,000 after buying an additional 620 shares during the period. Finally, Eastern Bank purchased a new position in shares of ONEOK during the third quarter worth about $1,220,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on OKE. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday, February 10th. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, UBS Group boosted 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. Seven equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Trading Up 0.4 %

Shares of OKE opened at $99.02 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $71.50 and a 1-year high of $118.07. The stock has a market cap of $57.85 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.74 and a beta of 1.70. The firm has a 50 day simple moving average of $101.42 and a 200-day simple moving average of $98.51.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is 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.