ONEOK, Inc. $OKE Stock Position Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 13.5% during the third quarter, Holdings Channel.com reports. The firm owned 77,586 shares of the utilities provider’s stock after selling 12,100 shares during the period. Thrivent Financial for Lutherans’ holdings in ONEOK were worth $5,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Donaldson Capital Management LLC increased its holdings in ONEOK by 9.5% in the third quarter. Donaldson Capital Management LLC now owns 20,735 shares of the utilities provider’s stock worth $1,513,000 after buying an additional 1,805 shares during the last quarter. Lee Financial Co raised its holdings in shares of ONEOK by 22.1% during the 3rd quarter. Lee Financial Co now owns 27,145 shares of the utilities provider’s stock valued at $1,981,000 after purchasing an additional 4,910 shares in the last quarter. Independent Advisor Alliance lifted its stake in shares of ONEOK by 1.2% in the 3rd quarter. Independent Advisor Alliance now owns 23,677 shares of the utilities provider’s stock valued at $1,728,000 after purchasing an additional 275 shares during the last quarter. Centerpoint Advisory Group boosted its holdings in ONEOK by 7.2% in the third quarter. Centerpoint Advisory Group now owns 10,409 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 700 shares in the last quarter. Finally, Keybank National Association OH increased its position in ONEOK by 4.6% during the third quarter. Keybank National Association OH now owns 115,337 shares of the utilities provider’s stock worth $8,416,000 after buying an additional 5,031 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $81.89 on Friday. The firm has a market capitalization of $51.53 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 4.57 and a beta of 0.96. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64. The firm has a 50-day moving average price of $74.80 and a 200 day moving average price of $73.39.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.2%. ONEOK’s dividend payout ratio (DPR) is currently 78.68%.

Analyst Ratings Changes

OKE has been the subject of several analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Finally, TD Cowen lowered their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average price target of $87.31.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.