Fourpath Capital Management LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Fourpath Capital Management LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 8,852 shares of the utilities provider’s stock after selling 636 shares during the period. Fourpath Capital Management LLC’s holdings in ONEOK were worth $889,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. increased its holdings in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC raised its holdings in shares of ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 96 shares during the period. Mutual Advisors LLC lifted 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. Morton Capital Management LLC CA boosted its stake in ONEOK by 1.4% in the 4th 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. Finally, HM Payson & Co. raised its stake in shares of ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OKE. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Wells Fargo & Company downgraded 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. Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Truist Financial upped their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Stock Performance

ONEOK stock opened at $97.65 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The business has a 50 day moving average of $104.51 and a 200-day moving average of $97.23. The company has a market capitalization of $57.05 billion, a P/E ratio of 20.43, a P/E/G ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

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.