Waterfront Wealth Inc. Purchases Shares of 2,058 ONEOK, Inc. (NYSE:OKE)

Waterfront Wealth Inc. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,058 shares of the utilities provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RW Investment Management LLC raised its position in ONEOK by 180.0% in the fourth quarter. RW Investment Management LLC now owns 13,379 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 8,600 shares in the last quarter. Hardy Reed LLC raised its holdings in shares of ONEOK by 7.7% in the 4th quarter. Hardy Reed LLC now owns 3,675 shares of the utilities provider’s stock worth $369,000 after purchasing an additional 264 shares in the last quarter. WealthBridge Capital Management LLC lifted its stake in ONEOK by 4.2% during the fourth quarter. WealthBridge Capital Management LLC now owns 10,228 shares of the utilities provider’s stock valued at $1,027,000 after purchasing an additional 409 shares during the last quarter. Corps Capital Advisors LLC acquired a new stake in ONEOK during the fourth quarter valued at approximately $5,867,000. Finally, Emerald Advisors LLC boosted its holdings in ONEOK by 3.2% during the fourth quarter. Emerald Advisors LLC now owns 4,244 shares of the utilities provider’s stock worth $426,000 after buying an additional 131 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the topic of several research reports. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Monday, February 10th. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Barclays assumed coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price objective for the company. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Down 0.6 %

ONEOK stock opened at $98.07 on Friday. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $57.29 billion, a PE ratio of 20.52, a P/E/G ratio of 3.80 and a beta of 1.70. The firm’s 50 day moving average price is $101.19 and its two-hundred day moving average price is $98.65.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. 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 dividend yield of 4.20%. ONEOK’s dividend payout ratio is 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.