AE Wealth Management LLC lowered its holdings in ONEOK, Inc. (NYSE:OKE) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,288 shares of the utilities provider’s stock after selling 5,553 shares during the period. AE Wealth Management LLC’s holdings in ONEOK were worth $1,352,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. grew its position in shares of ONEOK by 269.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after purchasing an additional 9,737,701 shares during the period. Harvest Fund Advisors LLC purchased a new stake in shares of ONEOK in the third quarter valued at $414,256,000. Kayne Anderson Capital Advisors LP grew its position in shares of ONEOK by 184.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after purchasing an additional 6,148,494 shares during the period. Center Coast Capital Advisors LP purchased a new stake in shares of ONEOK in the third quarter valued at $99,520,000. Finally, Miller Howard Investments Inc. NY grew its position in shares of ONEOK by 141.2% in the third quarter. Miller Howard Investments Inc. NY now owns 2,146,396 shares of the utilities provider’s stock valued at $118,932,000 after purchasing an additional 1,256,525 shares during the period. 66.52% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Mizuho reaffirmed a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research report on Tuesday, January 23rd. Barclays raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $58.00 to $67.00 in a research report on Wednesday, January 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $64.00 price objective on shares of ONEOK in a research report on Tuesday, January 16th. Royal Bank of Canada raised ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co raised ONEOK from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 11th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $59.85.
ONEOK, Inc. (NYSE:OKE) opened at $54.40 on Friday. ONEOK, Inc. has a fifty-two week low of $47.14 and a fifty-two week high of $61.36. The firm has a market capitalization of $22,170.00, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.79 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, January 29th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, January 26th. This represents a $3.08 dividend on an annualized basis and a yield of 5.66%. This is a boost from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio (DPR) is presently 192.50%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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