Kingsview Wealth Management LLC Purchases 9,676 Shares of ONEOK, Inc. (NYSE:OKE)

Kingsview Wealth Management LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,498 shares of the utilities provider’s stock after purchasing an additional 9,676 shares during the period. Kingsview Wealth Management LLC’s holdings in ONEOK were worth $4,066,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of ONEOK by 219.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock worth $393,000 after buying an additional 2,965 shares during the period. Ritholtz Wealth Management purchased a new position in ONEOK during the 3rd quarter valued at about $206,000. CHICAGO TRUST Co NA increased its holdings in ONEOK by 97.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 14,414 shares of the utilities provider’s stock valued at $1,314,000 after purchasing an additional 7,107 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of ONEOK by 28.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,233 shares of the utilities provider’s stock worth $751,000 after acquiring an additional 1,826 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of ONEOK during the 3rd quarter valued at $106,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.1 %

Shares of NYSE:OKE opened at $95.75 on Friday. ONEOK, Inc. has a 12-month low of $68.21 and a 12-month high of $118.07. 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 $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The stock has a 50 day moving average of $102.92 and a 200 day moving average of $97.49.

ONEOK Increases Dividend

The company also recently announced 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. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKE. Barclays began coverage on shares of ONEOK in a report on Thursday. They set an “equal weight” rating and a $105.00 target price on the stock. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America initiated coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. UBS Group boosted 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, Wells Fargo & Company lowered 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. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.