MGB Wealth Management LLC Has $3.73 Million Stake in ONEOK, Inc. (NYSE:OKE)

MGB Wealth Management LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,144 shares of the utilities provider’s stock after buying an additional 344 shares during the quarter. ONEOK comprises 1.2% of MGB Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. MGB Wealth Management LLC’s holdings in ONEOK were worth $3,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in ONEOK by 3.9% in the 4th quarter. Van ECK Associates Corp now owns 204,614 shares of the utilities provider’s stock worth $20,544,000 after buying an additional 7,759 shares in the last quarter. Values First Advisors Inc. grew its position in shares of ONEOK by 379.4% during the fourth quarter. Values First Advisors Inc. now owns 2,325 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 1,840 shares in the last quarter. Davidson Capital Management Inc. raised its stake in ONEOK by 77.4% during the 4th quarter. Davidson Capital Management Inc. now owns 31,558 shares of the utilities provider’s stock valued at $3,168,000 after purchasing an additional 13,769 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in ONEOK by 6.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 11,260 shares of the utilities provider’s stock worth $1,130,000 after purchasing an additional 691 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new position in ONEOK in the 4th quarter worth approximately $368,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on OKE. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. UBS Group lifted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank began coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Seven equities research 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, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

OKE opened at $97.62 on Thursday. The firm has a market capitalization of $57.03 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The business’s 50-day moving average is $102.45 and its two-hundred day moving average is $97.94. ONEOK, Inc. has a 1 year low of $68.65 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The firm 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

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.