Fruth Investment Management Sells 1,325 Shares of ONEOK, Inc. (NYSE:OKE)

Fruth Investment Management reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 20,452 shares of the utilities provider’s stock after selling 1,325 shares during the quarter. Fruth Investment Management’s holdings in ONEOK were worth $2,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Astoria Portfolio Advisors LLC. grew its holdings in ONEOK by 4.1% during the 4th 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 during the last quarter. McAdam LLC lifted 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 purchasing an additional 96 shares during the period. Mutual Advisors LLC increased its holdings in ONEOK by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock valued at $965,000 after purchasing an additional 103 shares during the period. Morton Capital Management LLC CA raised its position in ONEOK by 1.4% during 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 last quarter. Finally, HM Payson & Co. increased 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 buying an additional 105 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of ONEOK stock opened at $97.84 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a fifty day simple moving average of $103.91 and a 200 day simple moving average of $97.42. ONEOK, Inc. has a 12-month low of $67.67 and a 12-month high of $118.07. The company has a market capitalization of $57.16 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently declared 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 positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analyst Ratings Changes

Several brokerages recently commented on OKE. Barclays upped their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.