Greenwood Capital Associates LLC Raises Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Greenwood Capital Associates LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,405 shares of the utilities provider’s stock after purchasing an additional 1,656 shares during the period. Greenwood Capital Associates LLC’s holdings in ONEOK were worth $1,948,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Matrix Trust Co purchased a new position in ONEOK during the 3rd quarter valued at about $29,000. Kieckhefer Group LLC bought a new stake in ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter worth approximately $37,000. Values First Advisors Inc. bought a new position in ONEOK in the 3rd quarter valued at $44,000. Finally, Fortitude Family Office LLC raised its position 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 in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Down 0.2 %

Shares of NYSE:OKE opened at $97.46 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $56.94 billion, a PE ratio of 20.39, a P/E/G ratio of 3.69 and a beta of 1.70. The stock’s 50-day moving average is $104.51 and its 200 day moving average is $97.23. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 annualized dividend and a yield of 4.23%. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. UBS Group upped 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. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Truist Financial upped their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

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.