WealthBridge Capital Management LLC Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

WealthBridge Capital Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,228 shares of the utilities provider’s stock after acquiring an additional 409 shares during the quarter. WealthBridge Capital Management LLC’s holdings in ONEOK were worth $1,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. International Assets Investment Management LLC boosted its holdings in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK in the 3rd quarter worth approximately $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK in the 3rd quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC boosted its holdings in ONEOK by 10,153.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock worth $49,662,000 after acquiring an additional 489,821 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Finally, UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Performance

OKE stock opened at $99.02 on Thursday. 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 firm has a market cap of $57.85 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.74 and a beta of 1.70. ONEOK, Inc. has a 12-month low of $71.50 and a 12-month high of $118.07. The stock’s 50 day simple moving average is $101.42 and its 200 day simple moving average is $98.51.

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 dividend of $1.03 per share. 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 was Monday, February 3rd. ONEOK’s dividend 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.