Sterling Manor Financial LLC Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Sterling Manor Financial LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,500 shares of the utilities provider’s stock after selling 650 shares during the period. ONEOK makes up approximately 0.5% of Sterling Manor Financial LLC’s portfolio, making the stock its 18th biggest holding. Sterling Manor Financial LLC’s holdings in ONEOK were worth $753,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new position in ONEOK in the third quarter valued at $29,000. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $30,000. Access Investment Management LLC acquired a new position in ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. acquired a new stake in ONEOK in the third quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 2.9 %

Shares of OKE opened at $96.95 on Monday. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. 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 fifty day simple moving average of $104.51 and a two-hundred day simple moving average of $97.14. The company has a market capitalization of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OKE shares. 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. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America assumed 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. Truist Financial raised their price target 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. Finally, Royal Bank of Canada boosted their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.