Centerpoint Advisory Group Buys New Stake in ONEOK, Inc. (NYSE:OKE)

Centerpoint Advisory Group bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,909 shares of the utilities provider’s stock, valued at approximately $995,000.

Other institutional investors also recently made changes to their positions in the company. Kieckhefer Group LLC purchased a new stake in ONEOK during the 4th quarter worth about $30,000. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth about $37,000. Values First Advisors Inc. acquired a new position in shares of ONEOK in the third quarter valued at approximately $44,000. Fortitude Family Office LLC lifted its stake 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 valued at $45,000 after buying an additional 135 shares during the period. Finally, Versant Capital Management Inc boosted its position in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Price Performance

Shares of NYSE OKE opened at $97.96 on Friday. 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 business has a 50-day moving average of $101.79 and a 200-day moving average of $98.05. The company has a market capitalization of $57.23 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

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

Wall Street Analyst Weigh In

OKE has been the subject of several analyst reports. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price on the stock. UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average 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.