Sheaff Brock Investment Advisors LLC Decreases Position in ONEOK, Inc. (NYSE:OKE)

Sheaff Brock Investment Advisors LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,553 shares of the utilities provider’s stock after selling 2,168 shares during the period. ONEOK accounts for about 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Sheaff Brock Investment Advisors LLC’s holdings in ONEOK were worth $10,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 661,854 shares during the period. Geode Capital Management LLC raised its position in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the period. Janus Henderson Group PLC raised its position in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the period. International Assets Investment Management LLC raised its position in ONEOK by 9,439.9% during the third 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 period. Finally, abrdn plc raised its position in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.0 %

Shares of NYSE:OKE opened at $97.96 on Friday. 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 $57.23 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The business’s 50 day moving average is $101.79 and its 200 day moving average is $98.05. ONEOK, Inc. has a 52-week low of $69.01 and a 52-week high of $118.07.

ONEOK Increases Dividend

The business 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. This represents a $4.12 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays started coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.