ING Groep NV Sells 70,601 Shares of ONEOK, Inc. (NYSE:OKE)

ING Groep NV cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 453,520 shares of the utilities provider’s stock after selling 70,601 shares during the quarter. ING Groep NV owned approximately 0.08% of ONEOK worth $45,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Kieckhefer Group LLC bought a new stake in ONEOK during the fourth quarter valued at about $30,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter valued at about $37,000. Values First Advisors Inc. bought a new stake in ONEOK during the third quarter valued at about $44,000. Fortitude Family Office LLC raised its holdings in 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 raised its holdings in 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. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OKE shares. 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 report on Monday, February 10th. Barclays started coverage on ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Up 0.4 %

Shares of NYSE:OKE opened at $99.02 on Thursday. ONEOK, Inc. has a 1 year low of $71.50 and a 1 year high of $118.07. The business has a 50 day simple moving average of $101.42 and a two-hundred day simple moving average of $98.51. The firm has a market capitalization of $57.85 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. 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 Increases Dividend

The firm 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. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 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.