ING Groep NV Lowers Stake in ONEOK, Inc. (NYSE:OKE)

ING Groep NV lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 453,520 shares of the utilities provider’s stock after selling 70,601 shares during the period. ING Groep NV’s holdings in ONEOK were worth $45,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of OKE. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC purchased a new stake in ONEOK during the third quarter worth $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC lifted its holdings in shares of 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 last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of ONEOK by 98.1% during 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 during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $99.02 on Thursday. The business’s 50-day moving average is $101.42 and its two-hundred day moving average is $98.51. The company has a market capitalization of $57.85 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $71.50 and a fifty-two week high of $118.07.

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 an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Barclays assumed coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Finally, UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.