Sterling Manor Financial LLC Trims Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Sterling Manor Financial LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,500 shares of the utilities provider’s stock after selling 650 shares during the quarter. ONEOK makes up 0.5% of Sterling Manor Financial LLC’s investment portfolio, making the stock its 18th biggest position. Sterling Manor Financial LLC’s holdings in ONEOK were worth $753,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OKE. International Assets Investment Management LLC lifted its stake in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 3.9% in 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ONEOK during the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK during the 3rd quarter worth approximately $45,194,000. Finally, National Bank of Canada FI boosted its position in ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after buying an additional 465,243 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. 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. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank initiated coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Price Performance

Shares of OKE opened at $96.95 on Monday. The firm has a fifty day moving average price of $104.51 and a 200 day moving average price of $97.14. The stock has a market cap of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK’s dividend payout ratio is 82.85%.

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.