TCV Trust & Wealth Management Inc. Buys 2,800 Shares of ONEOK, Inc. (NYSE:OKE)

TCV Trust & Wealth Management Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 91.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,856 shares of the utilities provider’s stock after buying an additional 2,800 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in ONEOK were worth $588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in 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 acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% in the 3rd 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 3rd quarter worth $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK in the 3rd quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC increased its stake in ONEOK by 10,153.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after purchasing an additional 489,821 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.3 %

Shares of NYSE:OKE opened at $98.98 on Wednesday. The company has a market capitalization of $57.82 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $68.65 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a fifty day moving average price of $102.68 and a two-hundred day moving average price of $97.82.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKE. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Barclays started coverage on ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Seven 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 stock. According to data from MarketBeat.com, the company has a consensus 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.