Strategic Financial Concepts LLC Acquires 489,821 Shares of ONEOK, Inc. (NYSE:OKE)

Strategic Financial Concepts LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10,153.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 494,645 shares of the utilities provider’s stock after purchasing an additional 489,821 shares during the quarter. Strategic Financial Concepts LLC owned 0.08% of ONEOK worth $49,662,000 at the end of the most recent reporting period.

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

ONEOK Trading Down 2.2 %

NYSE OKE opened at $95.74 on Friday. The stock has a market cap of $55.93 billion, a P/E ratio of 20.03, a P/E/G ratio of 3.69 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $67.81 and a 12-month high of $118.07. The company has a fifty day simple moving average of $103.62 and a two-hundred day simple moving average of $97.42.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.30%. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.