Wealthspire Advisors LLC Sells 8,988 Shares of ONEOK, Inc. (NYSE:OKE)

Wealthspire Advisors LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 52,079 shares of the utilities provider’s stock after selling 8,988 shares during the quarter. Wealthspire Advisors LLC’s holdings in ONEOK were worth $5,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. boosted 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 buying an additional 96 shares during the last quarter. McAdam LLC raised its position in shares of ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC raised its position in shares of ONEOK by 0.8% during the fourth 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 period. Mutual Advisors LLC raised its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the period. Finally, Morton Capital Management LLC CA raised its position in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Down 0.6 %

NYSE:OKE opened at $98.07 on Monday. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07. The stock’s 50 day moving average price is $101.19 and its two-hundred day moving average price is $98.87. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The business also recently declared 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 is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. ONEOK’s payout ratio is 86.19%.

ONEOK Company 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.