Thrivent Financial for Lutherans Sells 12,100 Shares of ONEOK, Inc. $OKE

Thrivent Financial for Lutherans cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of ONEOK by 84.0% during the 2nd quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares in the last quarter. Morningstar Investment Management LLC boosted its position in ONEOK by 18.2% during the second quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after purchasing an additional 4,206 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in ONEOK by 34.1% in the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after purchasing an additional 22,282 shares during the last quarter. National Pension Service increased its position in shares of ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after buying an additional 24,003 shares in the last quarter. Finally, Meixler Investment Management Ltd. boosted its position in shares of ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after buying an additional 17,714 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 target price on shares of ONEOK in a report on Monday, November 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. Barclays decreased their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. UBS Group cut their target price on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research note on Thursday, October 30th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $87.31.

ONEOK Price Performance

OKE stock opened at $81.89 on Friday. The firm has a market cap of $51.53 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 4.57 and a beta of 0.96. The stock has a 50-day simple moving average of $74.80 and a 200-day simple moving average of $73.39. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64.

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 issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 5.2%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 78.68%.

ONEOK Company Profile

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.