DAVENPORT & Co LLC Purchases 605 Shares of ONEOK, Inc. (NYSE:OKE)

DAVENPORT & Co LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,676 shares of the utilities provider’s stock after buying an additional 605 shares during the period. DAVENPORT & Co LLC’s holdings in ONEOK were worth $9,907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. National Pension Service increased its holdings in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its holdings in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several research reports. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Barclays increased their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Trading Down 2.9 %

Shares of OKE stock opened at $96.95 on Monday. The stock has a fifty day simple moving average of $104.51 and a two-hundred day simple moving average of $97.14. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The firm has a market capitalization of $56.64 billion, a PE ratio of 20.28, a PEG ratio of 3.81 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. ONEOK’s payout ratio is currently 82.85%.

About ONEOK

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.