ONEOK, Inc. (NYSE:OKE) Position Reduced by TIAA Trust National Association

TIAA Trust National Association reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,518 shares of the utilities provider’s stock after selling 573 shares during the quarter. TIAA Trust National Association’s holdings in ONEOK were worth $554,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. grew its holdings in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC boosted its position in shares of ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its stake in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after purchasing an additional 104 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 report on Monday, February 10th. Barclays cut their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Stock Performance

Shares of OKE opened at $98.76 on Friday. The company has a market capitalization of $61.66 billion, a PE ratio of 20.66, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company’s 50 day moving average price is $98.53 and its 200 day moving average price is $100.07. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

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.