Sierra Ocean LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Sierra Ocean LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 581 shares of the utilities provider’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the fourth quarter worth $30,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter worth $37,000. Values First Advisors Inc. acquired a new position in ONEOK in the third quarter worth $44,000. Fortitude Family Office LLC boosted its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OKE shares. Truist Financial upped 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. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Down 1.0 %

Shares of ONEOK stock opened at $97.96 on Tuesday. The stock has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a PEG ratio of 3.67 and a beta of 1.70. 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 50 day moving average price of $101.79 and a two-hundred day moving average price of $98.27. ONEOK, Inc. has a 12-month low of $69.01 and a 12-month high of $118.07.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.21%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is presently 86.19%.

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.