Oxbow Advisors LLC Reduces Position in ONEOK, Inc. (NYSE:OKE)

Oxbow Advisors LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,245 shares of the utilities provider’s stock after selling 240 shares during the quarter. Oxbow Advisors LLC’s holdings in ONEOK were worth $1,229,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Foundations Investment Advisors LLC grew its stake in ONEOK by 26.2% in the third quarter. Foundations Investment Advisors LLC now owns 7,660 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 1,592 shares in the last quarter. Signaturefd LLC grew its stake in ONEOK by 8.1% in the third quarter. Signaturefd LLC now owns 8,230 shares of the utilities provider’s stock worth $750,000 after purchasing an additional 620 shares in the last quarter. Private Advisor Group LLC grew its stake in ONEOK by 1.8% in the third quarter. Private Advisor Group LLC now owns 66,819 shares of the utilities provider’s stock worth $6,089,000 after purchasing an additional 1,186 shares in the last quarter. Greenleaf Trust grew its stake in ONEOK by 1.7% in the third quarter. Greenleaf Trust now owns 9,512 shares of the utilities provider’s stock worth $867,000 after purchasing an additional 155 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on OKE. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Barclays initiated coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Price Performance

Shares of ONEOK 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 current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market cap of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company’s 50-day moving average price is $101.19 and its two-hundred day moving average price is $98.65.

ONEOK Increases Dividend

The firm also recently announced 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 of this dividend was Monday, February 3rd. 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%. ONEOK’s dividend payout ratio is currently 86.19%.

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.