Horst & Graben Wealth Management LLC Acquires Shares of 9,190 ONEOK, Inc. (NYSE:OKE)

Horst & Graben Wealth Management LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,190 shares of the utilities provider’s stock, valued at approximately $923,000.

A number of other institutional investors also recently modified their holdings of OKE. Matrix Trust Co bought a new position in ONEOK during the 3rd quarter worth $29,000. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter worth $30,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter worth $37,000. Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at about $44,000. Finally, Fortitude Family Office LLC lifted its position in 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 purchasing an additional 135 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 2.9 %

Shares of NYSE OKE opened at $96.95 on Friday. The company has a 50 day simple moving average of $104.51 and a 200 day simple moving average of $97.14. 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, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The firm has a market cap of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.81 and a beta of 1.70.

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 paid a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKE shares. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.