WP Advisors LLC Acquires 362 Shares of ONEOK, Inc. (NYSE:OKE)

WP Advisors LLC lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,282 shares of the utilities provider’s stock after purchasing an additional 362 shares during the period. ONEOK comprises about 1.3% of WP Advisors LLC’s investment portfolio, making the stock its 21st biggest position. WP Advisors LLC’s holdings in ONEOK were worth $4,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. Legacy Capital Group California Inc. bought a new stake in ONEOK in the 4th quarter worth $792,000. Waterfront Wealth Inc. bought a new stake in ONEOK in the 4th quarter worth $207,000. RW Investment Management LLC grew its holdings in ONEOK by 180.0% in the 4th quarter. RW Investment Management LLC now owns 13,379 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 8,600 shares during the last quarter. Hardy Reed LLC grew its holdings in ONEOK by 7.7% in the 4th quarter. Hardy Reed LLC now owns 3,675 shares of the utilities provider’s stock worth $369,000 after acquiring an additional 264 shares during the last quarter. Finally, WealthBridge Capital Management LLC grew its holdings in ONEOK by 4.2% in the 4th quarter. WealthBridge Capital Management LLC now owns 10,228 shares of the utilities provider’s stock worth $1,027,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst 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 price target on the stock. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Price Performance

Shares of NYSE:OKE opened at $98.65 on Friday. ONEOK, Inc. has a twelve month low of $71.85 and a twelve month high of $118.07. The company’s 50 day moving average is $101.31 and its 200 day moving average is $98.51. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market cap of $57.63 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 3.80 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

ONEOK Company 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.