ONEOK, Inc. (NYSE:OKE) Shares Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 157.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,442 shares of the utilities provider’s stock after purchasing an additional 7,618 shares during the quarter. Strategic Financial Concepts LLC’s holdings in ONEOK were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter valued at $30,000. Access Investment Management LLC acquired a new position in shares of ONEOK during the third quarter valued at $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK during the third quarter valued at about $44,000. Fortitude Family Office LLC lifted its holdings in ONEOK by 37.4% in 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. Finally, Versant Capital Management Inc grew its position in ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OKE. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target for the company. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Performance

ONEOK stock opened at $98.57 on Wednesday. ONEOK, Inc. has a fifty-two week low of $71.50 and a fifty-two week high of $118.07. The firm’s 50 day simple moving average is $101.64 and its 200-day simple moving average is $98.38. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $57.58 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 86.19%.

ONEOK 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.