ONEOK, Inc. (NYSE:OKE) is Spirit of America Management Corp NY’s 6th Largest Position

Spirit of America Management Corp NY decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,142 shares of the utilities provider’s stock after selling 22,475 shares during the quarter. ONEOK accounts for approximately 2.2% of Spirit of America Management Corp NY’s holdings, making the stock its 6th biggest position. Spirit of America Management Corp NY’s holdings in ONEOK were worth $10,857,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $29,000. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at about $30,000. Access Investment Management LLC purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $44,000. Finally, Fortitude Family Office LLC grew its stake in shares of ONEOK by 37.4% during the 3rd 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. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.6 %

OKE stock opened at $97.03 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The business has a 50 day simple moving average of $104.24 and a two-hundred day simple moving average of $97.33.

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 dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is currently 82.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Barclays boosted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.92.

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.