Kingsview Wealth Management LLC Grows Holdings in ONEOK, Inc. (NYSE:OKE)

Kingsview Wealth Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 31.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,498 shares of the utilities provider’s stock after purchasing an additional 9,676 shares during the period. Kingsview Wealth Management LLC’s holdings in ONEOK were worth $4,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its stake in ONEOK by 1.0% in the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC grew its stake in ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares during the last quarter. International Assets Investment Management LLC grew its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Finally, abrdn plc grew its stake in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Barclays began coverage on ONEOK in a research note on Thursday. They set an “equal weight” rating and a $105.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Bank of America began coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.42.

ONEOK Trading Down 0.1 %

Shares of OKE stock opened at $95.75 on Friday. The business’s 50 day moving average is $102.92 and its two-hundred day moving average is $97.49. ONEOK, Inc. has a twelve month low of $68.21 and a twelve month high of $118.07. The company has a market capitalization of $55.94 billion, a P/E ratio of 20.03, 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.

ONEOK Increases Dividend

The firm also recently declared 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 a boost 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 dividend payout ratio (DPR) is currently 86.19%.

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.