Global Retirement Partners LLC Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

Global Retirement Partners LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,148 shares of the utilities provider’s stock after selling 602 shares during the period. Global Retirement Partners LLC’s holdings in ONEOK were worth $4,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter worth about $37,000. Values First Advisors Inc. bought a new position in ONEOK during the 3rd quarter worth about $44,000. Fortitude Family Office LLC increased its position in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.7 %

NYSE:OKE opened at $98.57 on Wednesday. The company has a market capitalization of $57.58 billion, a P/E ratio of 20.62, a PEG ratio of 3.74 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $71.50 and a 12 month high of $118.07. The firm has a fifty day simple moving average of $101.53 and a 200-day simple moving average of $98.51.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OKE. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday, February 10th. Barclays assumed 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. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 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, Truist Financial increased their price target 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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.