ONEOK, Inc. (NYSE:OKE) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,852 shares of the utilities provider's stock after selling 9,347 shares during the period. Truist Financial Corp's holdings in ONEOK were worth $27,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after purchasing an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its stake in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock worth $294,440,000 after buying an additional 3,197,121 shares during the period. Finally, abrdn plc boosted its holdings in shares of ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider's stock valued at $195,545,000 after purchasing an additional 277,514 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

OKE traded down $0.56 during midday trading on Friday, hitting $98.07. 4,112,736 shares of the company were exchanged, compared to its average volume of 4,441,403. The company's 50 day simple moving average is $101.19 and its 200 day simple moving average is $98.65. 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 3.77 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07. 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 Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price target on the stock. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They set an "equal weight" rating and a $105.00 target price on the stock. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company downgraded ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.92.

ONEOK Company 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.