Morningstar Investment Management LLC Has $3.34 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Morningstar Investment Management LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,260 shares of the utilities provider's stock after selling 26,129 shares during the quarter. Morningstar Investment Management LLC's holdings in ONEOK were worth $3,339,000 at the end of the most recent reporting period.

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

ONEOK Price Performance

OKE traded down $0.56 during 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. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70. The stock has a 50 day moving average of $101.31 and a two-hundred day moving average of $98.51. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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 dividend of $1.03 per share. 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 yield of 4.20%. The ex-dividend date was Monday, February 3rd. ONEOK's payout ratio is presently 86.19%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Barclays started coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an "equal weight" rating and a $105.00 target price for the company. Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price target on the stock. Finally, UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Seven research 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.com, the stock currently has a consensus 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.