Capital Advisors Inc. OK Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

Capital Advisors Inc. OK raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,954 shares of the utilities provider's stock after buying an additional 11,578 shares during the quarter. Capital Advisors Inc. OK's holdings in ONEOK were worth $7,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in ONEOK during the fourth quarter valued at $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the 3rd quarter worth about $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK in the 3rd quarter worth about $44,000. Fortitude Family Office LLC raised its position in shares of ONEOK by 37.4% in the 3rd 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 raised its position in shares of ONEOK by 98.1% in the 4th 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. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKE. Wells Fargo & Company lowered 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. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price target for the company. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a report on Tuesday, December 3rd. Barclays initiated coverage on ONEOK in a report on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 price objective for the company. Finally, UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $103.92.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $1.01 during mid-day trading on Friday, reaching $97.96. 2,813,945 shares of the company traded hands, compared to its average volume of 4,202,985. The company's 50 day moving average price is $101.79 and its 200-day moving average price is $98.05. The firm has a market cap of $57.23 billion, a PE ratio of 20.49, a PEG ratio of 3.67 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 52 week low of $69.01 and a 52 week high of $118.07.

ONEOK Increases Dividend

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

ONEOK 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.