MGB Wealth Management LLC Purchases 344 Shares of ONEOK, Inc. (NYSE:OKE)

MGB Wealth Management LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 37,144 shares of the utilities provider’s stock after buying an additional 344 shares during the quarter. ONEOK comprises 1.2% of MGB Wealth Management LLC’s portfolio, making the stock its 10th largest holding. MGB Wealth Management LLC’s holdings in ONEOK were worth $3,731,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ONEOK by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after buying an additional 138,430 shares during the period. Janus Henderson Group PLC boosted its stake in shares of ONEOK by 0.3% in the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock worth $341,844,000 after buying an additional 11,189 shares during the last quarter. International Assets Investment Management LLC grew its holdings in ONEOK by 9,439.9% during 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. Finally, abrdn plc increased its holdings in shares of ONEOK by 14.8% during the 3rd quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Stock Down 1.3 %

Shares of OKE opened at $97.62 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market capitalization of $57.03 billion, a PE ratio of 20.42, a P/E/G ratio of 3.67 and a beta of 1.70. The company’s 50-day simple moving average is $102.45 and its 200-day simple moving average is $97.94. ONEOK, Inc. has a 1 year low of $68.65 and a 1 year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. 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. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.