Global Retirement Partners LLC Reduces Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Global Retirement Partners LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 49,148 shares of the utilities provider’s stock after selling 602 shares during the quarter. Global Retirement Partners LLC’s holdings in ONEOK were worth $4,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its stake in shares of ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC grew its holdings in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Alliance Wealth Advisors LLC raised its position in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after acquiring an additional 100 shares in the last quarter. Mutual Advisors LLC lifted its holdings in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 103 shares during the period. Finally, Morton Capital Management LLC CA lifted its holdings in ONEOK by 1.4% in the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 104 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKE. Mizuho raised shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays began coverage on shares of ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Finally, UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Up 0.7 %

Shares of NYSE OKE opened at $98.57 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $101.53 and a 200 day moving average of $98.51. ONEOK, Inc. has a 12-month low of $71.50 and a 12-month high of $118.07. The stock has a market cap of $57.58 billion, a PE ratio of 20.62, a P/E/G ratio of 3.74 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

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.