Legacy Capital Group California Inc. Buys Shares of 7,888 ONEOK, Inc. (NYSE:OKE)

Legacy Capital Group California Inc. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,888 shares of the utilities provider’s stock, valued at approximately $792,000.

A number of other large investors have also recently made changes to their positions in OKE. Kieckhefer Group LLC purchased a new stake in shares of ONEOK in the 4th quarter worth $30,000. Access Investment Management LLC bought a new stake in ONEOK during the third quarter valued at about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK in the third quarter worth about $44,000. Fortitude Family Office LLC raised its stake in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after buying an additional 135 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after buying an additional 260 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Scotiabank initiated coverage on ONEOK in a 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Price Performance

Shares of ONEOK stock opened at $98.65 on Friday. The firm has a market cap of $57.63 billion, a PE ratio of 20.64, a PEG ratio of 3.80 and a beta of 1.70. The stock has a 50 day moving average of $101.31 and a 200 day moving average of $98.51. 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 $71.85 and a 12 month high of $118.07.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $1.03 per share. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio is currently 86.19%.

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.