Waterfront Wealth Inc. Acquires New Holdings in ONEOK, Inc. (NYSE:OKE)

Waterfront Wealth Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,058 shares of the utilities provider’s stock, valued at approximately $207,000.

Other large investors also recently made changes to their positions in the company. National Pension Service grew its holdings in ONEOK by 1.6% during 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 last quarter. Leavell Investment Management Inc. grew its stake in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after buying an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after acquiring an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after acquiring an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its position in shares of 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 last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on OKE shares. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Truist Financial increased 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. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

Shares of OKE stock opened at $98.07 on Friday. ONEOK, Inc. has a 52 week low of $72.44 and a 52 week high of $118.07. The stock has a market capitalization of $57.29 billion, a PE ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s fifty day moving average is $101.19 and its 200-day moving average is $98.65.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.20%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 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.