Strategic Financial Concepts LLC Increases Stock Position in ONEOK, Inc. (NYSE:OKE)

Strategic Financial Concepts LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 157.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,442 shares of the utilities provider's stock after buying an additional 7,618 shares during the quarter. Strategic Financial Concepts LLC's holdings in ONEOK were worth $1,249,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OKE shares. Barclays started coverage on shares of ONEOK in a research report on Thursday, February 6th. They set an "equal weight" rating and a $105.00 price target for the company. Wells Fargo & Company downgraded shares of 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. Mizuho upgraded shares of ONEOK to a "hold" rating in a research report on Thursday, November 7th. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They set a "sector outperform" rating and a $109.00 price target for the company. Finally, Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Trading Down 0.6 %

OKE stock traded down $0.56 during midday trading on Friday, hitting $98.07. The stock had a trading volume of 4,112,736 shares, compared to its average volume of 4,441,403. The firm has a market cap of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.77 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 12-month low of $72.44 and a 12-month high of $118.07. The company's 50-day moving average price is $101.19 and its 200 day moving average price is $98.65.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK's payout ratio is presently 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.