Principal Financial Group Inc. Trims Stake in ONEOK, Inc. (NYSE:OKE)

Principal Financial Group Inc. lowered its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,357 shares of the utilities provider's stock after selling 9,957 shares during the quarter. Principal Financial Group Inc. owned 0.12% of ONEOK worth $70,316,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Kieckhefer Group LLC purchased a new position in ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC acquired a new stake in ONEOK in the 3rd quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter valued at approximately $44,000. Fortitude Family Office LLC lifted its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE stock traded down $0.56 during midday trading on Friday, reaching $98.07. 4,112,736 shares of the company traded hands, compared to its average volume of 4,441,403. The firm has a market cap of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm's 50 day simple moving average is $101.19 and its two-hundred day simple moving average is $98.65. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07.

ONEOK Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Truist Financial boosted their target price on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research note on Tuesday, December 3rd. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $103.92.

About ONEOK

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.