TCV Trust & Wealth Management Inc. Acquires 2,800 Shares of ONEOK, Inc. (NYSE:OKE)

TCV Trust & Wealth Management Inc. raised its holdings in ONEOK, Inc. (NYSE:OKE) by 91.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,856 shares of the utilities provider’s stock after acquiring an additional 2,800 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in ONEOK were worth $588,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the 4th quarter valued at approximately $30,000. Access Investment Management LLC acquired a new stake in ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC increased its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OKE shares. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective for the company. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Performance

OKE stock opened at $98.98 on Wednesday. The firm has a market cap of $57.82 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $102.68 and a 200-day moving average price of $97.82. ONEOK, Inc. has a 1-year low of $68.65 and a 1-year high of $118.07.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s payout ratio is presently 86.19%.

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.