Kentucky Retirement Systems Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Kentucky Retirement Systems cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 40,137 shares of the utilities provider’s stock after selling 553 shares during the period. Kentucky Retirement Systems’ holdings in ONEOK were worth $4,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. National Pension Service lifted its stake in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. lifted its position in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC increased its position in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock 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 market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70. The business has a fifty day moving average of $101.19 and a two-hundred day moving average of $98.65.

ONEOK Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. UBS Group boosted their price target 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. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.