ONEOK, Inc. (NYSE:OKE) is Sage Advisors LLC’s 8th Largest Position

Sage Advisors LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,739 shares of the utilities provider’s stock after selling 278 shares during the period. ONEOK accounts for 4.3% of Sage Advisors LLC’s holdings, making the stock its 8th biggest holding. Sage Advisors LLC’s holdings in ONEOK were worth $5,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK during the 3rd quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC boosted its position in shares of ONEOK by 10,153.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after acquiring an additional 489,821 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

NYSE OKE opened at $97.96 on Friday. The company has a market cap of $57.23 billion, a PE ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $69.01 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50 day moving average price is $102.01 and its 200-day moving average price is $97.94.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $1.03 dividend. This is a boost 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 of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKE. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Wolfe Research upgraded shares of 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. Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Company 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.