Empower Advisory Group LLC Boosts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Empower Advisory Group LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,932 shares of the utilities provider’s stock after purchasing an additional 413 shares during the quarter. Empower Advisory Group LLC’s holdings in ONEOK were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service lifted its position in ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. lifted its position in ONEOK by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares during the period. FNY Investment Advisers LLC lifted its position in ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock valued at $2,208,000 after purchasing an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its position in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 5,321 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $99.02 on Thursday. 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 company has a market cap of $57.85 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.74 and a beta of 1.70. The firm’s fifty day moving average is $101.42 and its two-hundred day moving average is $98.51. ONEOK, Inc. has a 52-week low of $71.50 and a 52-week high of $118.07.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. 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 yield of 4.16%. The ex-dividend date was Monday, February 3rd. ONEOK’s payout ratio is currently 86.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on OKE shares. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays started coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target on the stock. Truist Financial increased their price target 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. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company downgraded 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. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.