Americana Partners LLC Purchases 196,038 Shares of ONEOK, Inc. (NYSE:OKE)

Americana Partners LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 258.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,836 shares of the utilities provider’s stock after buying an additional 196,038 shares during the quarter. ONEOK comprises 1.1% of Americana Partners LLC’s portfolio, making the stock its 22nd largest holding. Americana Partners LLC’s holdings in ONEOK were worth $27,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new position in ONEOK during the 4th quarter valued at about $58,000. Mainsail Asset Management LLC purchased a new position in ONEOK during the 4th quarter valued at about $205,000. L.M. Kohn & Company grew its holdings in ONEOK by 4.5% during the 4th quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider’s stock valued at $247,000 after buying an additional 105 shares in the last quarter. Csenge Advisory Group grew its holdings in ONEOK by 1.8% during the 4th quarter. Csenge Advisory Group now owns 21,684 shares of the utilities provider’s stock valued at $2,177,000 after buying an additional 384 shares in the last quarter. Finally, Tcfg Wealth Management LLC purchased a new position in ONEOK during the 4th quarter valued at about $220,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 1.0 %

Shares of OKE opened at $97.96 on Monday. 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, Inc. has a 1 year low of $69.01 and a 1 year high of $118.07. The stock has a 50 day simple moving average of $101.79 and a two-hundred day simple moving average of $98.16. The firm has a market cap of $57.23 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 86.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a report on Wednesday, December 18th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.