Kayne Anderson Capital Advisors LP Sells 734,277 Shares of ONEOK, Inc. (NYSE:OKE)

Kayne Anderson Capital Advisors LP lessened its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,563,757 shares of the utilities provider's stock after selling 734,277 shares during the period. ONEOK comprises 6.1% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 8th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.44% of ONEOK worth $257,401,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of OKE. Atria Investments Inc increased its stake in shares of ONEOK by 76.9% in the third quarter. Atria Investments Inc now owns 23,561 shares of the utilities provider's stock valued at $2,147,000 after buying an additional 10,240 shares in the last quarter. Sigma Planning Corp lifted its holdings in ONEOK by 2.8% during the third quarter. Sigma Planning Corp now owns 13,095 shares of the utilities provider's stock worth $1,193,000 after acquiring an additional 352 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of ONEOK by 3.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 24,806 shares of the utilities provider's stock valued at $2,260,000 after purchasing an additional 772 shares during the period. Los Angeles Capital Management LLC boosted its stake in ONEOK by 34.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 37,258 shares of the utilities provider's stock worth $3,395,000 after purchasing an additional 9,497 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of ONEOK during the third quarter worth about $115,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OKE shares. 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 boosted their price target on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.31.

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ONEOK Stock Performance

Shares of ONEOK stock opened at $92.63 on Wednesday. The firm's 50-day moving average is $99.66 and its 200 day moving average is $99.52. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The stock has a market cap of $57.83 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.45%. ONEOK's payout ratio is 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.

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