CAP Partners LLC Has $795,000 Stake in ONEOK, Inc. (NYSE:OKE)

CAP Partners LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,916 shares of the utilities provider’s stock after selling 261 shares during the quarter. CAP Partners LLC’s holdings in ONEOK were worth $795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC raised its stake in 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 buying an additional 11,189 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 in the last quarter. Finally, abrdn plc grew its stake in 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 acquiring an additional 277,514 shares during the period. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKE. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Up 3.0 %

NYSE:OKE opened at $98.65 on Tuesday. The firm has a market capitalization of $57.63 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $68.65 and a twelve month high of $118.07. The stock’s 50 day moving average price is $102.92 and its two-hundred day moving average price is $97.70.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is 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.