Hendershot Investments Inc. Has $1.02 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

Hendershot Investments Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,145 shares of the utilities provider’s stock after selling 224 shares during the period. Hendershot Investments Inc.’s holdings in ONEOK were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Astoria Portfolio Advisors LLC. lifted its holdings in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 96 shares during the period. McAdam LLC lifted its holdings in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the last quarter. Mutual Advisors LLC grew its stake in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Morton Capital Management LLC CA increased its holdings in shares of 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 buying an additional 104 shares in the last quarter. Finally, HM Payson & Co. raised its stake in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE stock opened at $95.75 on Friday. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $68.21 and a 12-month 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 firm has a fifty day moving average of $102.92 and a 200-day moving average of $97.49.

ONEOK Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank began coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Truist Financial raised their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.42.

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.