ONEOK, Inc. (NYSE:OKE) Shares Purchased by RW Investment Management LLC

RW Investment Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 180.0% in the 4th quarter, Holdings Channel reports. The firm owned 13,379 shares of the utilities provider’s stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. lifted its position in ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after buying an additional 96 shares in the last quarter. McAdam LLC lifted its position in ONEOK by 3.8% during the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after buying an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA lifted its position in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.4 %

OKE stock opened at $99.02 on Thursday. 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 $71.50 and a 1-year high of $118.07. The firm has a fifty day moving average price of $101.42 and a two-hundred day moving average price of $98.51. The firm has a market cap of $57.85 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently announced 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 positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.16%. ONEOK’s payout ratio is presently 86.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OKE shares. Truist Financial boosted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. 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 target price on the stock. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lowered 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 note on Wednesday, December 18th. Finally, Barclays began coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price 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.