Clarity Financial LLC Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

Clarity Financial LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,166 shares of the utilities provider's stock after selling 34,553 shares during the quarter. ONEOK comprises about 1.4% of Clarity Financial LLC's investment portfolio, making the stock its 25th largest position. Clarity Financial LLC's holdings in ONEOK were worth $11,964,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Kieckhefer Group LLC purchased a new position in shares of ONEOK during the 4th quarter worth about $30,000. Matrix Trust Co purchased a new position in shares of ONEOK during the third quarter valued at approximately $29,000. Access Investment Management LLC bought a new position in shares of ONEOK during the third quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC lifted its stake 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 worth $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

OKE has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Wells Fargo & Company downgraded ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Mizuho upgraded ONEOK to a "hold" rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $102.92.

ONEOK Stock Down 0.6 %

OKE traded down $0.59 during trading on Tuesday, hitting $97.04. The stock had a trading volume of 2,577,316 shares, compared to its average volume of 3,975,788. The stock has a 50 day simple moving average of $104.24 and a two-hundred day simple moving average of $97.33. 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 twelve month low of $67.05 and a twelve month high of $118.07. The company has a market capitalization of $56.69 billion, a PE ratio of 20.26, a PEG ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK's payout ratio is presently 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.