ONEOK, Inc. (NYSE:OKE) Shares Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 10,153.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 494,645 shares of the utilities provider’s stock after purchasing an additional 489,821 shares during the period. Strategic Financial Concepts LLC’s holdings in ONEOK were worth $49,662,000 as of its most recent filing with the Securities & Exchange Commission.

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

ONEOK Trading Down 2.2 %

NYSE OKE opened at $95.74 on Friday. ONEOK, Inc. has a 12 month low of $67.81 and a 12 month high of $118.07. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth 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 $103.62 and its 200 day moving average price is $97.42.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, February 3rd. ONEOK’s payout ratio is presently 82.85%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Seven investment 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 company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $103.42.

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.