23,505 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Advisors Preferred LLC

Advisors Preferred LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,505 shares of the utilities provider’s stock, valued at approximately $2,392,000.

Several other hedge funds also recently modified their holdings of OKE. Kingsview Wealth Management LLC boosted its position in ONEOK by 31.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 40,498 shares of the utilities provider’s stock worth $4,066,000 after acquiring an additional 9,676 shares during the last quarter. Conning Inc. boosted its holdings in shares of ONEOK by 7.1% during the fourth quarter. Conning Inc. now owns 11,558 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 762 shares during the last quarter. Shepherd Financial Partners LLC purchased a new stake in shares of ONEOK in the fourth quarter valued at $219,000. Sumitomo Mitsui Trust Group Inc. increased its stake in ONEOK by 9.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,544,208 shares of the utilities provider’s stock valued at $155,038,000 after purchasing an additional 136,071 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in ONEOK by 10,153.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after buying an additional 489,821 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of OKE stock opened at $95.75 on Friday. ONEOK, Inc. has a twelve month low of $68.21 and a twelve month high of $118.07. The company has a market capitalization of $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $103.28 and a 200-day simple moving average of $97.41.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective 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. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Barclays initiated coverage on ONEOK in a research report on Thursday. They set an “equal weight” rating and a $105.00 price target for the company. Finally, UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.42.

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.