Kestra Investment Management LLC Reduces Holdings in ONEOK, Inc. (NYSE:OKE)

Kestra Investment Management LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 77.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 511 shares of the utilities provider’s stock after selling 1,754 shares during the period. Kestra Investment Management LLC’s holdings in ONEOK were worth $51,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the third quarter worth about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter valued at approximately $44,000. Fortitude Family Office LLC boosted its position in ONEOK by 37.4% in 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 last quarter. Finally, Versant Capital Management Inc boosted its position in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.6 %

Shares of OKE stock opened at $98.07 on Friday. 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 company has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. The stock has a 50 day simple moving average of $101.19 and a 200-day simple moving average of $98.65. ONEOK, Inc. has a 1-year low of $72.44 and a 1-year high of $118.07.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 86.19%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of recent research reports. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays initiated coverage on ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.