RW Investment Management LLC Purchases 8,600 Shares of ONEOK, Inc. (NYSE:OKE)

RW Investment Management LLC increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 180.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,379 shares of the utilities provider's stock after buying an additional 8,600 shares during the quarter. RW Investment Management LLC's holdings in ONEOK were worth $1,343,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKE. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a "hold" rating in a research note on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price for the company. Finally, Barclays began coverage on ONEOK in a report on Thursday, February 6th. They set an "equal weight" rating and a $105.00 price target on the stock. Seven 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Stock Down 0.6 %

OKE traded down $0.56 during midday trading on Friday, hitting $98.07. 4,112,736 shares of the company's stock traded hands, compared to its average volume of 3,920,269. 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 company has a market cap of $57.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70. The stock's fifty day simple moving average is $101.31 and its 200-day simple moving average is $98.51. ONEOK, Inc. has a one year low of $72.44 and a one year high of $118.07.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Monday, February 3rd. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's payout ratio is presently 86.19%.

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.