Newbridge Financial Services Group Inc. Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Newbridge Financial Services Group Inc. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,067 shares of the utilities provider's stock, valued at approximately $1,312,000.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new stake in ONEOK during the 3rd quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of ONEOK by 10,153.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider's stock valued at $49,662,000 after buying an additional 489,821 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OKE shares. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price objective on the stock. Barclays began coverage on ONEOK in a research note on Thursday, February 6th. They set an "equal weight" rating and a $105.00 price objective for the company. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Finally, 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. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Stock Performance

OKE traded down $1.31 on Wednesday, reaching $97.62. The 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 price is $102.45 and its two-hundred day moving average price is $97.94. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $68.65 and a 12-month high of $118.07. The company 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.22%. This is a boost from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK's payout ratio is presently 86.19%.

ONEOK Company 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.