Yousif Capital Management LLC Sells 3,515 Shares of ONEOK, Inc. (NYSE:OKE)

Yousif Capital Management LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 79,628 shares of the utilities provider’s stock after selling 3,515 shares during the period. Yousif Capital Management LLC’s holdings in ONEOK were worth $7,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. International Assets Investment Management LLC boosted its stake in 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 valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ONEOK by 3.9% during 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 buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK during the third quarter worth $47,957,000. Yaupon Capital Management LP purchased a new stake in ONEOK in the 3rd quarter valued at $45,194,000. Finally, National Bank of Canada FI lifted its stake in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after acquiring an additional 465,243 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. 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 target price for the company. Barclays increased their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. 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. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Up 0.8 %

OKE stock opened at $97.84 on Thursday. The stock has a fifty day moving average of $103.91 and a 200-day moving average of $97.42. ONEOK, Inc. has a fifty-two week low of $67.67 and a fifty-two week high of $118.07. The company has a market capitalization of $57.16 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 3.69 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

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.