Kuhn & Co Investment Counsel Buys Shares of 1,999 ONEOK, Inc. (NYSE:OKE)

Kuhn & Co Investment Counsel bought a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,999 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Kieckhefer Group LLC acquired a new position in shares of ONEOK during the 4th quarter worth $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the 3rd quarter worth $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK during the 3rd quarter worth $44,000. Fortitude Family Office LLC raised its stake in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.0 %

OKE opened at $97.96 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market capitalization of $57.23 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The business has a 50-day moving average of $101.79 and a two-hundred day moving average of $98.05. ONEOK, Inc. has a 12 month low of $69.01 and a 12 month high of $118.07.

ONEOK Increases Dividend

The firm 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 a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. ONEOK’s payout ratio is 86.19%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKE. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven investment 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. According to MarketBeat, the stock currently 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.