Advisors Preferred LLC Invests $2.39 Million in ONEOK, Inc. (NYSE:OKE)

Advisors Preferred LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,505 shares of the utilities provider’s stock, valued at approximately $2,392,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new position in shares of ONEOK in the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter worth $37,000. Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. Fortitude Family Office LLC lifted its position in shares of ONEOK by 37.4% in the 3rd 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 last quarter. Finally, Versant Capital Management Inc boosted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 260 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on OKE. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays initiated coverage on shares of ONEOK in a research report on Thursday. They set an “equal weight” rating and a $105.00 price objective on the stock. Finally, UBS Group increased their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.42.

ONEOK Stock Down 0.1 %

ONEOK stock opened at $95.75 on Friday. ONEOK, Inc. has a fifty-two week low of $68.21 and a fifty-two week 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. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 3.67 and a beta of 1.70. The firm has a fifty day moving average price of $103.28 and a two-hundred day moving average price of $97.41.

ONEOK Increases Dividend

The firm also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 4.30%. ONEOK’s payout ratio is 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.