ING Groep NV Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

ING Groep NV trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 453,520 shares of the utilities provider's stock after selling 70,601 shares during the period. ING Groep NV owned approximately 0.08% of ONEOK worth $45,533,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price for the company. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. Barclays started coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an "equal weight" rating and a $105.00 price target for the company. Finally, Wells Fargo & Company downgraded shares of 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. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Price Performance

Shares of OKE traded down $0.56 during mid-day trading on Friday, reaching $98.07. The stock had a trading volume of 4,112,736 shares, compared to its average volume of 3,920,269. The firm has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $72.44 and a 12 month high of $118.07. The business has a fifty day moving average of $101.31 and a 200 day moving average of $98.51. 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 Increases Dividend

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

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.