State of Alaska Department of Revenue Sells 1,265 Shares of ONEOK, Inc. (NYSE:OKE)

State of Alaska Department of Revenue lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,601 shares of the utilities provider’s stock after selling 1,265 shares during the period. State of Alaska Department of Revenue’s holdings in ONEOK were worth $6,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKE. Kieckhefer Group LLC bought a new position in ONEOK during the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new position in shares of ONEOK during the 3rd quarter valued at $37,000. Values First Advisors Inc. bought a new stake in ONEOK in the third quarter worth $44,000. Fortitude Family Office LLC boosted its position in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Bank of America began coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, 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 report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.42.

ONEOK Price Performance

Shares of OKE stock opened at $95.75 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $55.94 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.69 and a beta of 1.70. The business’s fifty day moving average is $103.28 and its 200 day moving average is $97.41. ONEOK, Inc. has a twelve month low of $68.21 and a twelve month high of $118.07.

ONEOK Increases Dividend

The firm 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. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.