ONEOK, Inc. (NYSE:OKE) Stock Position Decreased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,936 shares of the utilities provider’s stock after selling 224 shares during the quarter. ONEOK comprises about 2.0% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 5th biggest holding. Pathway Financial Advisers LLC’s holdings in ONEOK were worth $6,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Avestar Capital LLC lifted its stake in shares of ONEOK by 17.2% in the fourth quarter. Avestar Capital LLC now owns 2,771 shares of the utilities provider’s stock worth $278,000 after buying an additional 406 shares in the last quarter. MGB Wealth Management LLC boosted its stake in ONEOK by 0.9% during the 4th quarter. MGB Wealth Management LLC now owns 37,144 shares of the utilities provider’s stock valued at $3,731,000 after purchasing an additional 344 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of ONEOK by 3.9% in the fourth quarter. Van ECK Associates Corp now owns 204,614 shares of the utilities provider’s stock worth $20,544,000 after purchasing an additional 7,759 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of ONEOK by 379.4% during the fourth quarter. Values First Advisors Inc. now owns 2,325 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Davidson Capital Management Inc. raised its position in ONEOK by 77.4% in the 4th quarter. Davidson Capital Management Inc. now owns 31,558 shares of the utilities provider’s stock worth $3,168,000 after buying an additional 13,769 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

Shares of ONEOK stock opened at $97.62 on Thursday. The company has a market capitalization of $57.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.67 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 stock’s 50-day simple moving average is $102.23 and its 200-day simple moving average is $97.94. ONEOK, Inc. has a 52 week low of $68.65 and a 52 week 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 issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.22%. ONEOK’s payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Barclays assumed coverage on shares of ONEOK in a report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Scotiabank started coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.