ONEOK, Inc. (NYSE:OKE) is Dividend Assets Capital LLC’s 3rd Largest Position

Dividend Assets Capital LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,060 shares of the utilities provider’s stock after selling 3,867 shares during the period. ONEOK makes up approximately 3.8% of Dividend Assets Capital LLC’s holdings, making the stock its 3rd largest position. Dividend Assets Capital LLC’s holdings in ONEOK were worth $19,684,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK during the third quarter worth about $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK during the third quarter worth about $45,194,000. Finally, Strategic Financial Concepts LLC lifted its position in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after purchasing an additional 489,821 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Barclays started coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company cut shares of 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Trading Down 0.6 %

NYSE:OKE opened at $98.07 on Friday. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week 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 stock has a fifty day simple moving average of $101.19 and a 200-day simple moving average of $98.65. The company has a market capitalization of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.20%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio 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.