ONEOK, Inc. (NYSE:OKE) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 394,255 shares of the utilities provider's stock after selling 12,729 shares during the period. HighTower Advisors LLC owned 0.07% of ONEOK worth $39,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter valued at $30,000. Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter valued at $40,000. J.Safra Asset Management Corp bought a new stake in shares of ONEOK during the fourth quarter valued at about $48,000. OFI Invest Asset Management bought a new stake in shares of ONEOK during the fourth quarter valued at about $51,000. Finally, Versant Capital Management Inc lifted its holdings in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after purchasing an additional 260 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Finally, Citigroup initiated coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 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, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $103.31.

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ONEOK Trading Up 2.1 %

Shares of OKE traded up $1.98 during midday trading on Monday, hitting $98.41. The stock had a trading volume of 2,878,920 shares, compared to its average volume of 4,097,356. The business has a 50-day simple moving average of $99.21 and a two-hundred day simple moving average of $99.65. The firm has a market cap of $61.44 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.77 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 fifty-two week low of $76.23 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.19%. ONEOK's payout ratio is currently 79.69%.

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.