Peregrine Asset Advisers Inc. Has $3.67 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Peregrine Asset Advisers Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 62.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,591 shares of the utilities provider’s stock after selling 62,139 shares during the period. ONEOK comprises about 1.4% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 23rd largest position. Peregrine Asset Advisers Inc.’s holdings in ONEOK were worth $3,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in ONEOK by 9,439.9% during 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 purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% during 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 buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter worth $47,957,000. Yaupon Capital Management LP purchased a new stake in ONEOK in the 3rd quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC raised its position in ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after buying an additional 489,821 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. 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 stock. According to MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Down 0.6 %

ONEOK stock opened at $98.07 on Friday. The firm has a 50 day simple moving average of $101.19 and a 200 day simple moving average of $98.65. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.80 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.20%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

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.