Avidian Wealth Enterprises LLC Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Avidian Wealth Enterprises LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,260 shares of the utilities provider’s stock after purchasing an additional 691 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ONEOK were worth $1,130,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter worth about $37,000. Values First Advisors Inc. purchased a new position in shares of ONEOK in the third quarter worth about $44,000. Fortitude Family Office LLC increased its holdings in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

ONEOK stock opened at $97.62 on Thursday. The stock’s 50 day simple moving average is $102.45 and its two-hundred day simple moving average is $97.94. 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 cap of $57.03 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.67 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $68.65 and a fifty-two week high of $118.07.

ONEOK Increases Dividend

The company also recently disclosed 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 boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s payout ratio is presently 86.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a report on Wednesday, December 18th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. 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’s stock. According to data from MarketBeat, the stock has a consensus 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.