ONEOK, Inc. (NYSE:OKE) Shares Sold by Lipe & Dalton

Lipe & Dalton cut its stake in ONEOK, Inc. (NYSE:OKE) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,602 shares of the utilities provider’s stock after selling 320 shares during the quarter. ONEOK comprises approximately 4.0% of Lipe & Dalton’s investment portfolio, making the stock its 4th biggest position. Lipe & Dalton’s holdings in ONEOK were worth $7,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OKE. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after purchasing an additional 11,189 shares during the last quarter. International Assets Investment Management LLC grew its position in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Finally, abrdn plc grew its position in ONEOK by 14.8% in the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after acquiring an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 0.6 %

OKE opened at $98.07 on Friday. The business’s fifty day moving average is $101.19 and its two-hundred day moving average is $98.65. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a one year low of $72.44 and a one year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

Analyst Ratings Changes

Several research firms have weighed in on OKE. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays started coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average 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.