ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Sentry Investment Management LLC

Sentry Investment Management LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,400 shares of the utilities provider’s stock after selling 115 shares during the period. Sentry Investment Management LLC’s holdings in ONEOK were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth about $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter worth approximately $37,000. Fortitude Family Office LLC raised 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. Versant Capital Management Inc lifted its position in shares of ONEOK by 98.1% in the 4th 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 in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of ONEOK in the 3rd quarter valued at approximately $57,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $95.66 on Wednesday. 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 has a market cap of $55.88 billion, a PE ratio of 20.01, a PEG ratio of 3.77 and a beta of 1.70. The firm’s 50 day moving average price is $100.97 and its 200 day moving average price is $99.04. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.31%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. UBS Group increased 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. 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 research note on Wednesday, December 18th. Finally, Barclays started coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Seven 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’s stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.