Davidson Capital Management Inc. Increases Stake in ONEOK, Inc. (NYSE:OKE)

Davidson Capital Management Inc. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 77.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,558 shares of the utilities provider’s stock after purchasing an additional 13,769 shares during the quarter. Davidson Capital Management Inc.’s holdings in ONEOK were worth $3,168,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC boosted its holdings in shares of ONEOK by 6.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 11,260 shares of the utilities provider’s stock valued at $1,130,000 after purchasing an additional 691 shares during the last quarter. Gladstone Institutional Advisory LLC purchased a new position in shares of ONEOK in the 4th quarter worth $368,000. Perissos Private Wealth Management LLC boosted its holdings in ONEOK by 1.3% in the fourth quarter. Perissos Private Wealth Management LLC now owns 12,129 shares of the utilities provider’s stock valued at $1,218,000 after acquiring an additional 156 shares during the last quarter. Capital Advisors Inc. OK grew its position in ONEOK by 17.2% during the fourth quarter. Capital Advisors Inc. OK now owns 78,954 shares of the utilities provider’s stock valued at $7,927,000 after acquiring an additional 11,578 shares during the period. Finally, Certuity LLC increased its stake in ONEOK by 6.6% during the fourth quarter. Certuity LLC now owns 2,359 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 146 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.3 %

NYSE:OKE opened at $98.98 on Wednesday. The stock has a market cap of $57.82 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a one year low of $68.65 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business’s 50-day simple moving average is $102.68 and its 200 day simple moving average is $97.82.

ONEOK Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. UBS Group increased their price objective 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. Barclays initiated coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Seven 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.