ONEOK, Inc. (NYSE:OKE) Stock Holdings Boosted by First Dallas Securities Inc.

First Dallas Securities Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,403 shares of the utilities provider’s stock after purchasing an additional 221 shares during the period. ONEOK accounts for about 2.6% of First Dallas Securities Inc.’s holdings, making the stock its 6th biggest position. First Dallas Securities Inc.’s holdings in ONEOK were worth $6,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Kieckhefer Group LLC purchased a new position in ONEOK in the fourth quarter valued at about $30,000. Matrix Trust Co bought a new position in ONEOK during the third quarter valued at $29,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter worth $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK in the third quarter valued at $44,000. Finally, Fortitude Family Office LLC grew its stake in shares of ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.5 %

Shares of NYSE OKE opened at $97.65 on Tuesday. The stock has a market capitalization of $57.05 billion, a P/E ratio of 20.43, a PEG ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a one year low of $67.05 and a one year high of $118.07. The firm’s 50 day simple moving average is $104.51 and its two-hundred day simple moving average is $97.23. 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.22%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective 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. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $102.92.

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.