Cidel Asset Management Inc. Has $287,000 Position in ONEOK, Inc. (NYSE:OKE)

Cidel Asset Management Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,860 shares of the utilities provider’s stock after selling 237 shares during the period. Cidel Asset Management Inc.’s holdings in ONEOK were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in OKE. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in ONEOK by 219.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock valued at $393,000 after buying an additional 2,965 shares during the period. Ritholtz Wealth Management bought a new stake in ONEOK during the third quarter worth $206,000. CHICAGO TRUST Co NA grew its position in shares of ONEOK by 97.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 14,414 shares of the utilities provider’s stock valued at $1,314,000 after acquiring an additional 7,107 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of ONEOK by 28.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,233 shares of the utilities provider’s stock valued at $751,000 after purchasing an additional 1,826 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in ONEOK in the 3rd quarter valued at about $106,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Down 0.1 %

NYSE OKE opened at $95.75 on Friday. The stock has a market capitalization of $55.94 billion, a P/E ratio of 20.03, a P/E/G ratio of 3.67 and a beta of 1.70. The business has a 50 day simple moving average of $102.92 and a 200 day simple moving average of $97.49. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $68.21 and a one year high of $118.07.

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 issued a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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 price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $103.42.

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.