ONEOK, Inc. (NYSE:OKE) Stake Lifted by WealthBridge Capital Management LLC

WealthBridge Capital Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,228 shares of the utilities provider’s stock after acquiring an additional 409 shares during the period. WealthBridge Capital Management LLC’s holdings in ONEOK were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in OKE. International Assets Investment Management LLC grew its stake 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 worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth $47,957,000. Yaupon Capital Management LP bought a new position in shares of ONEOK in the third quarter worth $45,194,000. Finally, Strategic Financial Concepts LLC grew its stake in shares of ONEOK by 10,153.8% in the fourth 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. 69.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on OKE. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut 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. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Trading Up 0.4 %

Shares of NYSE OKE opened at $99.02 on Thursday. ONEOK, Inc. has a 12 month low of $71.50 and a 12 month high of $118.07. The company has a market cap of $57.85 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 3.74 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The business has a fifty day simple moving average of $101.42 and a 200-day simple moving average of $98.51.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 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.