ONEOK, Inc. (NYSE:OKE) Shares Bought by Davidson Capital Management Inc.

Davidson Capital Management Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 77.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,558 shares of the utilities provider's stock after buying an additional 13,769 shares during the quarter. Davidson Capital Management Inc.'s holdings in ONEOK were worth $3,168,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OKE. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new position in ONEOK in the 3rd quarter valued at $37,000. Values First Advisors Inc. acquired a new position in ONEOK in the 3rd quarter valued at $44,000. Fortitude Family Office LLC grew its stake in shares of ONEOK by 37.4% during 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 period. Finally, Versant Capital Management Inc grew its stake in shares of ONEOK by 98.1% during 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 period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 1.0 %

NYSE:OKE traded down $1.01 on Friday, reaching $97.96. The stock had a trading volume of 2,813,945 shares, compared to its average volume of 4,202,985. The company has a market cap of $57.23 billion, a price-to-earnings ratio of 20.49, a P/E/G 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. The firm's fifty day moving average is $101.79 and its two-hundred day moving average is $98.05. ONEOK, Inc. has a 12-month low of $69.01 and a 12-month high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date 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 dividend payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. 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. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price objective on the stock. 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 boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Seven research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.92.

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.