Financial Advocates Investment Management Has $706,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Financial Advocates Investment Management decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,027 shares of the utilities provider’s stock after selling 199 shares during the quarter. Financial Advocates Investment Management’s holdings in ONEOK were worth $706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Values First Advisors Inc. bought a new position in shares of ONEOK during the third quarter valued at $44,000. Fortitude Family Office LLC lifted its holdings in shares of ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc grew its stake 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 purchasing an additional 260 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on OKE shares. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Scotiabank assumed coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. 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. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $103.42.

ONEOK Stock Down 0.1 %

ONEOK stock opened at $95.75 on Friday. 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 $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a fifty-two week low of $68.21 and a fifty-two week high of $118.07. The firm’s 50-day simple moving average is $103.28 and its 200 day simple moving average is $97.41.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. 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 yield of 4.30%. The ex-dividend date is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 82.85%.

About ONEOK

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.