Adamsbrown Wealth Consultants LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

Adamsbrown Wealth Consultants LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,504 shares of the utilities provider’s stock after purchasing an additional 374 shares during the period. ONEOK makes up approximately 0.5% of Adamsbrown Wealth Consultants LLC’s investment portfolio, making the stock its 24th biggest position. Adamsbrown Wealth Consultants LLC’s holdings in ONEOK were worth $1,557,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Pension Service grew its position in ONEOK by 1.6% in the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. lifted its stake in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in ONEOK by 14,279.1% in the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in ONEOK by 57.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on OKE shares. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Price Performance

NYSE OKE opened at $96.95 on Monday. The firm has a market capitalization of $56.64 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.69 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The firm’s fifty day simple moving average is $104.51 and its two-hundred day simple moving average is $97.14.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.25%. ONEOK’s payout ratio is 82.85%.

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.