Emerald Advisors LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Emerald Advisors LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,244 shares of the utilities provider’s stock after purchasing an additional 131 shares during the quarter. Emerald Advisors LLC’s holdings in ONEOK were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. grew its holdings in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after acquiring an additional 96 shares during the period. McAdam LLC grew its holdings in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC increased its position in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 100 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its position in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. UBS Group lifted their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Finally, Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Seven equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

NYSE:OKE opened at $99.02 on Thursday. The company has a market cap of $57.85 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.74 and a beta of 1.70. The firm’s 50 day moving average is $101.42 and its two-hundred day moving average is $98.51. ONEOK, Inc. has a fifty-two week low of $71.50 and a fifty-two week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.