Truist Financial Corp Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Truist Financial Corp cut its stake in ONEOK, Inc. (NYSE:OKE) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 276,852 shares of the utilities provider’s stock after selling 9,347 shares during the quarter. Truist Financial Corp’s holdings in ONEOK were worth $27,796,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OKE. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter valued at $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter valued at $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK in the third quarter valued at $44,000. Fortitude Family Office LLC grew its position in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.7 %

Shares of OKE stock opened at $98.57 on Wednesday. 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 business has a 50-day moving average price of $101.64 and a two-hundred day moving average price of $98.38. ONEOK, Inc. has a 12-month low of $71.50 and a 12-month high of $118.07. The firm has a market cap of $57.58 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date 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%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Barclays assumed coverage on ONEOK in a research report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Seven 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 stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price 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.