Soltis Investment Advisors LLC Takes Position in ONEOK, Inc. (NYSE:OKE)

Soltis Investment Advisors LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,043 shares of the utilities provider’s stock, valued at approximately $205,000.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position 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 worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ONEOK in the 3rd quarter worth $47,957,000. Yaupon Capital Management LP purchased a new position in ONEOK during the third quarter valued at $45,194,000. Finally, Strategic Financial Concepts LLC grew its holdings in ONEOK by 10,153.8% during 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 period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Trading Up 0.3 %

Shares of OKE stock opened at $98.98 on Wednesday. The stock’s 50-day moving average price is $102.68 and its 200-day moving average price is $97.82. ONEOK, Inc. has a 12-month low of $68.65 and a 12-month high of $118.07. The stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 20.71, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.16%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is 86.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday. Royal Bank of Canada raised their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Barclays began coverage on shares of ONEOK in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Finally, Truist Financial lifted 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.