SFE Investment Counsel Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

SFE Investment Counsel trimmed its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,369 shares of the utilities provider's stock after selling 7,930 shares during the quarter. ONEOK comprises 3.0% of SFE Investment Counsel's portfolio, making the stock its 6th biggest holding. SFE Investment Counsel's holdings in ONEOK were worth $14,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKE. Ritholtz Wealth Management acquired a new stake in shares of ONEOK in the 3rd quarter valued at $206,000. CX Institutional increased its position in ONEOK by 1.0% in the third quarter. CX Institutional now owns 56,583 shares of the utilities provider's stock worth $5,156,000 after purchasing an additional 552 shares during the period. Wesbanco Bank Inc. raised its holdings in ONEOK by 5.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 10,996 shares of the utilities provider's stock worth $1,002,000 after purchasing an additional 533 shares during the last quarter. Creative Planning lifted its position in ONEOK by 3.2% during the 3rd quarter. Creative Planning now owns 241,031 shares of the utilities provider's stock valued at $21,965,000 after purchasing an additional 7,467 shares during the period. Finally, Magnus Financial Group LLC bought a new position in shares of ONEOK in the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Mizuho raised ONEOK to a "hold" rating in a research note on Thursday, November 7th. 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 research note on Monday, February 10th. Finally, Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 target price 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.92.

ONEOK Stock Down 1.0 %

Shares of ONEOK stock traded down $1.01 on Monday, hitting $97.96. The company had a trading volume of 2,813,945 shares, compared to its average volume of 4,202,985. ONEOK, Inc. has a twelve month low of $69.01 and a twelve month high of $118.07. 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 stock has a 50-day moving average of $101.79 and a 200-day moving average of $98.27. The firm has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70.

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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is 86.19%.

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.