Cigna Investments Inc. New Sells 139 Shares of ONEOK, Inc. (NYSE:OKE)

Cigna Investments Inc. New trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,974 shares of the utilities provider’s stock after selling 139 shares during the quarter. Cigna Investments Inc. New’s holdings in ONEOK were worth $599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $30,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the third quarter worth $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. 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 worth $45,000 after acquiring an additional 135 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of ONEOK by 98.1% during 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 period. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKE. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Monday. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

NYSE OKE opened at $98.65 on Tuesday. 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 company has a market capitalization of $57.63 billion, a P/E ratio of 20.64, a P/E/G 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 firm has a 50-day moving average price of $102.92 and a two-hundred day moving average price of $97.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. ONEOK’s payout ratio is presently 86.19%.

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.