Principle Wealth Partners LLC Sells 153 Shares of ONEOK, Inc. (NYSE:OKE)

Principle Wealth Partners LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% in the fourth quarter, HoldingsChannel reports. The fund owned 3,500 shares of the utilities provider’s stock after selling 153 shares during the period. Principle Wealth Partners LLC’s holdings in ONEOK were worth $351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings 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 during the last quarter. Geode Capital Management LLC increased its holdings in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its holdings in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the last quarter. International Assets Investment Management LLC increased its holdings in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Finally, abrdn plc increased its holdings 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 purchasing an additional 277,514 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on OKE shares. Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Seven investment 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. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Up 0.3 %

OKE stock opened at $98.98 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $57.82 billion, a P/E ratio of 20.71, a P/E/G ratio of 3.67 and a beta of 1.70. The business has a 50-day moving average of $102.68 and a 200-day moving average of $97.82. ONEOK, Inc. has a fifty-two week low of $68.65 and a fifty-two week high of $118.07.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.16%. ONEOK’s dividend payout ratio is 86.19%.

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.