RW Investment Management LLC Boosts Holdings in ONEOK, Inc. (NYSE:OKE)

RW Investment Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 180.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,379 shares of the utilities provider’s stock after buying an additional 8,600 shares during the period. RW Investment Management LLC’s holdings in ONEOK were worth $1,343,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. National Pension Service grew its position in shares of ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. boosted its stake in ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after purchasing an additional 5,451 shares during the period. FNY Investment Advisers LLC boosted its stake in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its stake in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 5,321 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.4 %

Shares of NYSE OKE opened at $99.02 on Thursday. 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, Inc. has a 52 week low of $71.50 and a 52 week high of $118.07. The firm has a 50-day moving average price of $101.42 and a 200 day moving average price of $98.51. The stock has a market capitalization of $57.85 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid 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 dividend yield of 4.16%. ONEOK’s dividend payout ratio (DPR) is 86.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OKE. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Finally, Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.