Concurrent Investment Advisors LLC Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

Concurrent Investment Advisors LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,228 shares of the utilities provider’s stock after selling 9,743 shares during the period. Concurrent Investment Advisors LLC’s holdings in ONEOK were worth $5,244,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. boosted its position 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 worth $260,000 after purchasing an additional 96 shares during the period. McAdam LLC lifted its stake in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC boosted its holdings in ONEOK by 0.8% during the 4th 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 during the period. Mutual Advisors LLC grew its position in ONEOK by 1.2% in the 4th 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 in the last quarter. Finally, Morton Capital Management LLC CA increased its stake in ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $98.65 on Friday. 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’s 50-day moving average price is $101.31 and its 200 day moving average price is $98.51. ONEOK, Inc. has a 52 week low of $71.85 and a 52 week high of $118.07. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.18%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Ratings Changes

A number of research firms have issued reports on OKE. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays initiated coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. 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 company’s stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.