ONEOK, Inc. (NYSE:OKE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,305 shares of the utilities provider's stock after selling 9,988 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in ONEOK were worth $733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Astoria Portfolio Advisors LLC. grew its stake in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock worth $260,000 after purchasing an additional 96 shares in the last quarter. McAdam LLC boosted its position in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its position in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after acquiring an additional 100 shares in the last quarter. Mutual Advisors LLC boosted its position in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock valued at $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of NYSE OKE traded down $0.68 during trading on Friday, reaching $97.95. 1,693,162 shares of the company traded hands, compared to its average volume of 3,847,077. The firm's fifty day simple moving average is $101.31 and its 200 day simple moving average is $98.51. The stock has a market cap of $57.22 billion, a P/E ratio of 20.49, 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 company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This is a boost 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 dividend payout ratio (DPR) is 86.19%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OKE. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company cut ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $103.92.

ONEOK 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.