Newbridge Financial Services Group Inc. Invests $1.31 Million in ONEOK, Inc. (NYSE:OKE)

Newbridge Financial Services Group Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,067 shares of the utilities provider’s stock, valued at approximately $1,312,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKE. National Pension Service increased its holdings in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after acquiring an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. grew its stake in ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of ONEOK by 14,279.1% in the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in ONEOK by 57.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.1 %

Shares of NYSE:OKE opened at $95.75 on Friday. 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 $55.94 billion, a P/E ratio of 20.03, a PEG ratio of 3.67 and a beta of 1.70. The stock’s fifty day moving average price is $102.92 and its 200-day moving average price is $97.49. ONEOK, Inc. has a 1 year low of $68.21 and a 1 year high of $118.07.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.30%. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Analyst Ratings Changes

A number of research firms have recently weighed in on OKE. Barclays initiated coverage on ONEOK in a research note on Thursday. They issued an “equal weight” rating and a $105.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. 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 research note on Wednesday, October 16th. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Finally, Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

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.