Burns Matteson Capital Management LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Burns Matteson Capital Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,718 shares of the utilities provider’s stock, valued at approximately $574,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter valued at about $47,957,000. Yaupon Capital Management LP bought a new position in shares of ONEOK during the third quarter worth about $45,194,000. Finally, Strategic Financial Concepts LLC lifted 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 acquiring an additional 489,821 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of OKE opened at $95.75 on Monday. The stock has a market cap of $55.94 billion, a P/E ratio of 20.03, a P/E/G ratio of 3.67 and a beta of 1.70. The business’s fifty day moving average is $102.92 and its 200 day moving average is $97.59. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $68.21 and a 12-month high of $118.07.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.30%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank assumed coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Finally, UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

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.