Beach Investment Counsel Inc. PA Has $716,000 Position in ONEOK, Inc. (NYSE:OKE)

Beach Investment Counsel Inc. PA cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,129 shares of the utilities provider’s stock after selling 366 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in ONEOK were worth $716,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its position in ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC grew its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares in the last quarter. Mutual Advisors LLC grew its position in ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares in the last quarter. Morton Capital Management LLC CA grew its position in ONEOK by 1.4% in the 4th 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 in the last quarter. Finally, HM Payson & Co. grew its position in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE OKE opened at $97.43 on Tuesday. 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. The stock has a market capitalization of $56.91 billion, a PE ratio of 20.41, a P/E/G ratio of 3.69 and a beta of 1.70. The company’s 50 day simple moving average is $104.51 and its two-hundred day simple moving average is $97.23.

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 given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.23%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKE. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group increased their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

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.