Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,640 shares of the utilities provider's stock after selling 7,505 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in ONEOK were worth $6,590,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK in the 3rd quarter worth $44,000. Fortitude Family Office LLC boosted its position in shares of ONEOK by 37.4% in the 3rd 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% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company's stock.
ONEOK Stock Performance
Shares of NYSE OKE traded down $1.31 during trading on Wednesday, reaching $97.62. 3,754,043 shares of the company traded hands, compared to its average volume of 4,030,430. 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 $68.65 and a 12-month high of $118.07. The firm's fifty day simple moving average is $102.45 and its 200 day simple moving average is $97.94. The stock has a market cap of $57.03 billion, a P/E ratio of 20.42, a PEG ratio of 3.67 and a beta of 1.70.
ONEOK Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is currently 86.19%.
Wall Street Analysts Forecast Growth
OKE has been the subject of a number of recent analyst reports. 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. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price for the company. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 target price for the company. Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average target price of $103.92.
Check Out Our Latest Stock Report on OKE
About ONEOK
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Free Report)
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.
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