Level Four Advisory Services LLC Has $748,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Level Four Advisory Services LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,448 shares of the utilities provider’s stock after selling 1,324 shares during the period. Level Four Advisory Services LLC’s holdings in ONEOK were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in ONEOK during the fourth quarter valued at approximately $539,554,000. Raymond James Financial Inc. bought a new position in shares of ONEOK during the 4th quarter worth approximately $182,694,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in ONEOK by 445.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,526,899 shares of the utilities provider’s stock valued at $153,319,000 after buying an additional 1,246,963 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares in the last quarter. Finally, GQG Partners LLC grew its position in ONEOK by 217.2% in the fourth quarter. GQG Partners LLC now owns 1,235,012 shares of the utilities provider’s stock valued at $123,995,000 after acquiring an additional 845,715 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $98.47 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07. The stock has a market capitalization of $61.48 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.77 and a beta of 1.70. The business has a 50-day moving average price of $98.32 and a two-hundred day moving average price of $100.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. 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. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

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.