D.A. Davidson & CO. Has $15.58 Million Stock Position in ONEOK, Inc. (NYSE:OKE)

D.A. Davidson & CO. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 155,220 shares of the utilities provider’s stock after buying an additional 2,937 shares during the period. D.A. Davidson & CO.’s holdings in ONEOK were worth $15,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of 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. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the third quarter valued at approximately $47,957,000. Yaupon Capital Management LP acquired a new stake in shares of ONEOK in the third quarter valued at approximately $45,194,000. Finally, Strategic Financial Concepts LLC raised its holdings in shares of ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider’s stock valued at $49,662,000 after purchasing an additional 489,821 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on OKE. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price for the company. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Finally, Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Trading Up 0.7 %

OKE stock opened at $98.57 on Wednesday. The company has a fifty day moving average price of $101.64 and a two-hundred day moving average price of $98.38. The stock has a market cap of $57.58 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a one year low of $71.50 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

ONEOK Company 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.