Sanctuary Advisors LLC Decreases Holdings in ONEOK, Inc. (NYSE:OKE)

Sanctuary Advisors LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,463 shares of the utilities provider's stock after selling 2,914 shares during the period. Sanctuary Advisors LLC's holdings in ONEOK were worth $11,831,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OKE. International Assets Investment Management LLC increased its position in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK in the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK in the third quarter valued at approximately $45,194,000. Finally, Strategic Financial Concepts LLC lifted its stake in shares of ONEOK by 10,153.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider's stock worth $49,662,000 after buying an additional 489,821 shares during the period. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on OKE. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price objective for the company. Mizuho upgraded shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Wells Fargo & Company cut shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.92.

ONEOK Stock Performance

OKE traded down $0.56 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. The company has a market cap of $57.29 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70. The business's 50-day moving average price is $101.31 and its two-hundred day moving average price is $98.51. 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, Inc. has a 12-month low of $72.44 and a 12-month high of $118.07.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 86.19%.

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.