Alliance Wealth Advisors LLC UT Raises Position in ONEOK, Inc. (NYSE:OKE)

Alliance Wealth Advisors LLC UT raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,912 shares of the utilities provider’s stock after purchasing an additional 418 shares during the period. ONEOK comprises 1.0% of Alliance Wealth Advisors LLC UT’s investment portfolio, making the stock its 22nd biggest position. Alliance Wealth Advisors LLC UT’s holdings in ONEOK were worth $4,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in OKE. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock worth $1,242,449,000 after buying an additional 138,430 shares in the last quarter. Janus Henderson Group PLC grew its position in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the period. International Assets Investment Management LLC increased its holdings in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Finally, abrdn plc lifted its position in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after acquiring an additional 277,514 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.5 %

OKE opened at $97.65 on Tuesday. The company has a market capitalization of $57.05 billion, a P/E ratio of 20.43, a P/E/G ratio of 3.69 and a beta of 1.70. 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 firm’s fifty day moving average price is $104.51 and its two-hundred day moving average price is $97.23. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Scotiabank assumed coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.92.

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.