Wealthspire Advisors LLC Has $5.23 Million Stake in ONEOK, Inc. (NYSE:OKE)

Wealthspire Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,079 shares of the utilities provider’s stock after selling 8,988 shares during the quarter. Wealthspire Advisors LLC’s holdings in ONEOK were worth $5,229,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OKE. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the third quarter worth $47,957,000. Yaupon Capital Management LP acquired a new position in ONEOK during the third quarter worth $45,194,000. Strategic Financial Concepts LLC raised its stake in ONEOK by 10,153.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after acquiring an additional 489,821 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after acquiring an additional 465,243 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial increased their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays began coverage on ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 target price on the stock. Finally, UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven 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 stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

ONEOK stock opened at $98.07 on Monday. The business’s 50-day simple moving average is $101.19 and its 200 day simple moving average is $98.87. The stock has a market cap of $57.29 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $72.44 and a 12-month high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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 was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.20%. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

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.