Leavell Investment Management Inc. Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Leavell Investment Management Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,007 shares of the utilities provider’s stock after selling 1,229 shares during the quarter. Leavell Investment Management Inc.’s holdings in ONEOK were worth $14,057,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter worth approximately $30,000. Access Investment Management LLC purchased a new position in ONEOK in the third quarter worth approximately $37,000. Values First Advisors Inc. purchased a new position in ONEOK in the third quarter worth approximately $44,000. Fortitude Family Office LLC lifted its stake in ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $98.98 on Wednesday. The firm’s fifty day simple moving average is $102.68 and its 200-day simple moving average is $97.82. The stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $68.65 and a 12 month high of $118.07. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. 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 report on Friday, November 15th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Monday. Seven 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’s stock. According to data from MarketBeat.com, ONEOK has a consensus 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.