ONEOK, Inc. (NYSE:OKE) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,687 shares of the utilities provider's stock after selling 6,743 shares during the period. Ingalls & Snyder LLC's holdings in ONEOK were worth $4,687,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% in the 3rd 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 acquiring an additional 661,854 shares during the last quarter. Geode Capital Management LLC raised 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 grew its holdings in ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock valued at $341,844,000 after buying an additional 11,189 shares in the last quarter. International Assets Investment Management LLC lifted its position 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 worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Finally, abrdn plc raised its stake in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider's stock worth $195,545,000 after acquiring an additional 277,514 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on OKE shares. Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. Finally, Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

ONEOK Trading Down 1.0 %

NYSE OKE traded down $1.01 during trading hours on Friday, hitting $97.96. 2,813,945 shares of the company were exchanged, compared to its average volume of 4,202,985. The stock has a 50-day moving average price of $101.79 and a 200 day moving average price of $98.16. ONEOK, Inc. has a 52 week low of $69.01 and a 52 week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $57.23 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

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 issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK's payout ratio is 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.