WASHINGTON TRUST Co Boosts Stake in ONEOK, Inc. (NYSE:OKE)

WASHINGTON TRUST Co lifted its stake in ONEOK, Inc. (NYSE:OKE) by 19.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,088 shares of the utilities provider’s stock after purchasing an additional 492 shares during the period. WASHINGTON TRUST Co’s holdings in ONEOK were worth $310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the 3rd quarter worth $44,000. Fortitude Family Office LLC increased its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Down 1.0 %

Shares of NYSE:OKE opened at $97.96 on Friday. 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, Inc. has a 12 month low of $69.01 and a 12 month high of $118.07. The company has a 50-day moving average price of $101.79 and a 200 day moving average price of $98.05. The company has a market cap of $57.23 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OKE shares. Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Truist Financial increased their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research note on Monday, February 10th. Barclays initiated coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a 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 company’s stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.