Gladstone Institutional Advisory LLC Purchases New Holdings in ONEOK, Inc. (NYSE:OKE)

Gladstone Institutional Advisory LLC acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,662 shares of the utilities provider's stock, valued at approximately $368,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKE. National Pension Service boosted its position in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider's stock valued at $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. grew its position in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider's stock worth $12,871,000 after buying an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of ONEOK by 11.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider's stock worth $4,972,000 after buying an additional 5,451 shares during the period. FNY Investment Advisers LLC increased its stake in shares of ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider's stock worth $2,208,000 after acquiring an additional 21,847 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider's stock valued at $1,456,000 after acquiring an additional 5,321 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.38 on Wednesday, hitting $99.02. 1,823,116 shares of the company traded hands, compared to its average volume of 3,904,198. ONEOK, Inc. has a 52 week low of $71.50 and a 52 week high of $118.07. The business has a 50-day simple moving average of $101.53 and a 200 day simple moving average of $98.51. 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 stock has a market capitalization of $57.85 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 3.74 and a beta of 1.70.

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 issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is 86.19%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Barclays assumed 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. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price objective for the company. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research report on Tuesday, December 3rd. Finally, UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.