Lion Street Advisors LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Lion Street Advisors LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,116 shares of the utilities provider’s stock after acquiring an additional 3,208 shares during the period. Lion Street Advisors LLC’s holdings in ONEOK were worth $1,518,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. increased its position in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC increased its position in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC increased its position in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after buying an additional 11,189 shares in the last quarter. International Assets Investment Management LLC increased its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Finally, abrdn plc increased its position in ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKE. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Royal Bank of Canada upped their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Stock Down 0.6 %

Shares of OKE opened at $97.03 on Wednesday. ONEOK, Inc. has a 52 week low of $67.05 and a 52 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. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.69 and a beta of 1.70. The stock’s 50-day moving average price is $104.24 and its 200-day moving average price is $97.33.

ONEOK Increases Dividend

The business 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 $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK’s dividend payout ratio is presently 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.