Vontobel Holding Ltd. Trims Stake in ONEOK, Inc. (NYSE:OKE)

Vontobel Holding Ltd. lowered its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,440 shares of the utilities provider's stock after selling 5,135 shares during the quarter. Vontobel Holding Ltd.'s holdings in ONEOK were worth $2,855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Charles Schwab Investment Management Inc. boosted 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider's stock worth $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider's stock worth $341,844,000 after acquiring an additional 11,189 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of ONEOK by 9,439.9% during 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 acquiring an additional 3,197,121 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider's stock worth $195,545,000 after acquiring an additional 277,514 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $0.55 during trading on Thursday, reaching $98.65. 2,985,226 shares of the stock were exchanged, compared to its average volume of 3,914,407. ONEOK, Inc. has a 12 month low of $71.85 and a 12 month high of $118.07. The firm has a market cap of $57.63 billion, a PE ratio of 20.64, a PEG ratio of 3.77 and a beta of 1.70. The stock has a 50-day moving average price of $101.42 and a 200-day moving average price of $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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is 86.19%.

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price target for the company. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company downgraded 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. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Mizuho upgraded ONEOK to a "hold" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average 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.