Nations Financial Group Inc. IA ADV Buys 832 Shares of ONEOK, Inc. (NYSE:OKE)

Nations Financial Group Inc. IA ADV boosted its stake in ONEOK, Inc. (NYSE:OKE) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,389 shares of the utilities provider’s stock after purchasing an additional 832 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in ONEOK were worth $5,561,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OKE. WASHINGTON TRUST Co increased its position in shares of ONEOK by 19.0% during the 4th quarter. WASHINGTON TRUST Co now owns 3,088 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 492 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in ONEOK during the fourth quarter valued at approximately $18,292,000. Catalyst Financial Partners LLC increased its holdings in ONEOK by 3.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,183 shares of the utilities provider’s stock valued at $420,000 after buying an additional 137 shares during the last quarter. Asset Management One Co. Ltd. raised its position in ONEOK by 20.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 259,564 shares of the utilities provider’s stock worth $26,172,000 after acquiring an additional 44,418 shares during the period. Finally, Avestar Capital LLC boosted its stake in shares of ONEOK by 17.2% during the 4th quarter. Avestar Capital LLC now owns 2,771 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 406 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of analyst reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Monday, February 10th. Finally, Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Seven investment 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 stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Price Performance

NYSE OKE opened at $97.96 on Friday. The company has a market cap of $57.23 billion, a PE ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $69.01 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm’s 50 day moving average price is $102.01 and its 200-day moving average price is $97.94.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

ONEOK Company 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.