Newbridge Financial Services Group Inc. Takes $1.31 Million Position in ONEOK, Inc. (NYSE:OKE)

Newbridge Financial Services Group Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,067 shares of the utilities provider’s stock, valued at approximately $1,312,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its stake in ONEOK by 5.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,583 shares of the utilities provider’s stock valued at $1,665,000 after acquiring an additional 871 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of ONEOK by 0.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares in the last quarter. Northeast Investment Management boosted its stake in ONEOK by 8.3% during the fourth quarter. Northeast Investment Management now owns 4,013 shares of the utilities provider’s stock valued at $403,000 after buying an additional 308 shares during the last quarter. Empowered Funds LLC increased its stake in ONEOK by 80.3% in the 4th quarter. Empowered Funds LLC now owns 17,820 shares of the utilities provider’s stock worth $1,789,000 after acquiring an additional 7,936 shares during the last quarter. Finally, Advisory Resource Group boosted its position in shares of ONEOK by 1.5% during the 4th quarter. Advisory Resource Group now owns 13,339 shares of the utilities provider’s stock valued at $1,339,000 after acquiring an additional 201 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on OKE. UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial lifted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Royal Bank of Canada raised 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. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.42.

ONEOK Stock Down 0.1 %

NYSE:OKE opened at $95.75 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. ONEOK, Inc. has a 1-year low of $68.21 and a 1-year high of $118.07. The company has a 50-day moving average of $102.92 and a 200 day moving average of $97.49. The firm 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.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. 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%. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

ONEOK Company 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.