Wealthstar Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Wealthstar Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,705 shares of the utilities provider's stock, valued at approximately $673,000.

A number of other large investors also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter valued at $44,000. Fortitude Family Office LLC grew its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after purchasing an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock worth $53,000 after purchasing an additional 260 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Mizuho raised ONEOK to a "hold" rating in a research report on Thursday, November 7th. UBS Group raised 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. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Finally, Barclays began 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 for the company. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $103.92.

ONEOK Stock Up 1.3 %

Shares of NYSE:OKE traded up $1.24 during trading on Thursday, hitting $98.86. The company's stock had a trading volume of 4,336,496 shares, compared to its average volume of 4,040,992. 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, Inc. has a fifty-two week low of $68.65 and a fifty-two week high of $118.07. The stock's 50-day moving average price is $102.23 and its two-hundred day moving average price is $97.94. The company has a market capitalization of $57.75 billion, a PE ratio of 20.68, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is currently 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.