Leavell Investment Management Inc. Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Leavell Investment Management Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,007 shares of the utilities provider’s stock after selling 1,229 shares during the period. Leavell Investment Management Inc.’s holdings in ONEOK were worth $14,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter worth $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK during the 3rd quarter worth $44,000. Fortitude Family Office LLC boosted its position in shares of ONEOK by 37.4% during 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% during 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. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.3 %

Shares of OKE stock opened at $98.98 on Wednesday. The firm has a 50-day moving average price of $102.68 and a 200 day moving average price of $97.82. ONEOK, Inc. has a twelve month low of $68.65 and a twelve month high of $118.07. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.67 and a beta of 1.70. 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 will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

Analyst Ratings Changes

Several brokerages have commented on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America assumed coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. 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. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

About ONEOK

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.