Soltis Investment Advisors LLC Purchases New Shares in ONEOK, Inc. (NYSE:OKE)

Soltis Investment Advisors LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,043 shares of the utilities provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after acquiring an additional 138,430 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of ONEOK by 0.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after acquiring an additional 11,189 shares in the last quarter. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Finally, abrdn plc boosted its stake in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.3 %

OKE opened at $98.98 on Wednesday. The stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.67 and a beta of 1.70. The firm has a 50 day moving average price of $102.68 and a 200-day moving average price of $97.82. ONEOK, Inc. has a twelve month low of $68.65 and a twelve month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be 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 of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 86.19%.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ONEOK 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.