Wealth Alliance Lowers Position in ONEOK, Inc. (NYSE:OKE)

Wealth Alliance cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,284 shares of the utilities provider’s stock after selling 272 shares during the period. Wealth Alliance’s holdings in ONEOK were worth $330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Corps Capital Advisors LLC bought a new stake in ONEOK during the fourth quarter valued at about $5,867,000. Emerald Advisors LLC raised its holdings in ONEOK by 3.2% during the fourth quarter. Emerald Advisors LLC now owns 4,244 shares of the utilities provider’s stock valued at $426,000 after acquiring an additional 131 shares during the period. Private Advisor Group LLC raised its holdings in ONEOK by 16.4% during the fourth quarter. Private Advisor Group LLC now owns 77,746 shares of the utilities provider’s stock valued at $7,806,000 after acquiring an additional 10,927 shares during the period. Atria Wealth Solutions Inc. raised its holdings in ONEOK by 30.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 90,525 shares of the utilities provider’s stock valued at $9,089,000 after acquiring an additional 20,882 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in ONEOK by 102.3% during the fourth quarter. Venturi Wealth Management LLC now owns 6,489 shares of the utilities provider’s stock valued at $652,000 after acquiring an additional 3,281 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.6 %

Shares of NYSE OKE opened at $98.07 on Friday. The business’s 50 day moving average is $101.19 and its two-hundred day moving average is $98.65. 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 1-year low of $72.44 and a 1-year high of $118.07. The stock has a market capitalization of $57.29 billion, a P/E ratio of 20.52, a PEG ratio of 3.80 and a beta of 1.70.

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 paid a dividend of $1.03 per share. 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 was Monday, February 3rd. ONEOK’s payout ratio is presently 86.19%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Finally, Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.