BP Capital Fund Advisors LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,054 shares of the utilities provider’s stock after purchasing an additional 3,651 shares during the period. ONEOK makes up 5.6% of BP Capital Fund Advisors LLC’s portfolio, making the stock its 5th largest position. BP Capital Fund Advisors LLC’s holdings in ONEOK were worth $5,588,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Tarbox Family Office Inc. raised its stake in shares of ONEOK by 113.1% during the fourth quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. Northern Oak Wealth Management Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at about $26,000. Duncker Streett & Co. Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at about $26,000. M&R Capital Management Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at about $30,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at about $31,000. 73.75% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on OKE. Raymond James reduced their price target on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley began coverage on shares of ONEOK in a research report on Monday, January 6th. They set an “underweight” rating and a $63.00 price target on the stock. Scotiabank began coverage on shares of ONEOK in a research report on Tuesday, January 28th. They set a “sector outperform” rating and a $84.00 price target on the stock. Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their price target for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Hold” and a consensus target price of $75.60.
NYSE:OKE opened at $76.22 on Friday. The company’s 50 day moving average price is $75.77 and its 200-day moving average price is $72.42. ONEOK, Inc. has a 52 week low of $63.13 and a 52 week high of $77.26. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.87 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.935 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, January 24th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 4.91%. ONEOK’s dividend payout ratio is presently 134.53%.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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