Kingsview Wealth Management LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Kingsview Wealth Management LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,498 shares of the utilities provider's stock after buying an additional 9,676 shares during the quarter. Kingsview Wealth Management LLC's holdings in ONEOK were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of 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 during the third quarter valued at about $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK in the third quarter worth about $44,000. Fortitude Family Office LLC lifted its position in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after buying an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after buying an additional 260 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Down 1.3 %

Shares of NYSE OKE traded down $1.31 during midday trading on Wednesday, hitting $97.62. The company's stock had a trading volume of 3,754,043 shares, compared to its average volume of 4,030,430. The business's 50 day moving average is $102.45 and its two-hundred day moving average is $97.94. ONEOK, Inc. has a 12-month low of $68.65 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market cap of $57.03 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.22%. ONEOK's dividend payout ratio (DPR) is 86.19%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKE. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. Mizuho upgraded shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Barclays started coverage on shares of ONEOK in a report on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 target price on the stock. Finally, Truist Financial increased their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.