Jennison Associates LLC Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Jennison Associates LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,816 shares of the utilities provider’s stock after selling 54,454 shares during the quarter. Jennison Associates LLC’s holdings in ONEOK were worth $37,029,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter valued at about $29,000. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK in the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC increased its holdings in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKE. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Trading Down 0.6 %

Shares of NYSE:OKE opened at $97.03 on Wednesday. The business’s 50-day moving average is $104.24 and its 200 day moving average is $97.33. 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 $67.05 and a 1 year high of $118.07. The firm has a market capitalization of $56.68 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 82.85%.

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.