Avidian Wealth Enterprises LLC Buys 691 Shares of ONEOK, Inc. (NYSE:OKE)

Avidian Wealth Enterprises LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,260 shares of the utilities provider’s stock after purchasing an additional 691 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in ONEOK were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OKE. Kieckhefer Group LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $30,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $37,000. Values First Advisors Inc. bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC boosted its position in shares of 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 purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings 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 acquiring an additional 260 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 1.3 %

NYSE:OKE opened at $97.62 on Thursday. 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 firm has a market capitalization of $57.03 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a one year low of $68.65 and a one year high of $118.07. The business has a fifty day moving average price of $102.45 and a 200-day moving average price of $97.94.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 4.22%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 86.19%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Scotiabank began coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday. Finally, UBS Group boosted their target price 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. Seven investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.