ONEOK, Inc. (NYSE:OKE) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,472 shares of the utilities provider’s stock after selling 396 shares during the period. Dana Investment Advisors Inc.’s holdings in ONEOK were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Vision Financial Markets LLC bought a new position in shares of ONEOK in the fourth quarter valued at $251,000. Arizona State Retirement System increased its holdings in shares of ONEOK by 1.5% in the fourth quarter. Arizona State Retirement System now owns 169,645 shares of the utilities provider’s stock valued at $17,032,000 after buying an additional 2,431 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of ONEOK in the fourth quarter valued at $1,805,000. Proficio Capital Partners LLC bought a new position in shares of ONEOK in the fourth quarter valued at $258,000. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in shares of ONEOK in the fourth quarter valued at $34,360,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Down 0.2 %

ONEOK stock opened at $89.59 on Monday. The company’s fifty day simple moving average is $100.00 and its 200-day simple moving average is $99.46. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12 month low of $76.23 and a 12 month high of $118.07. The stock has a market cap of $55.93 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. 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 4.60%. ONEOK’s dividend payout ratio is currently 79.69%.

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.