Hodges Capital Management Inc. Acquires 2,221 Shares of ONEOK, Inc. (NYSE:OKE)

Hodges Capital Management Inc. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 149,128 shares of the utilities provider’s stock after acquiring an additional 2,221 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $14,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Catalina Capital Group LLC increased its stake in shares of ONEOK by 4.9% during the fourth quarter. Catalina Capital Group LLC now owns 4,080 shares of the utilities provider’s stock valued at $410,000 after buying an additional 190 shares during the period. Adamsbrown Wealth Consultants LLC increased its position in ONEOK by 2.5% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 15,504 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 374 shares during the period. Horst & Graben Wealth Management LLC purchased a new stake in shares of ONEOK in the 4th quarter worth about $923,000. McAdam LLC lifted its position in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of ONEOK by 19.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 59,283 shares of the utilities provider’s stock valued at $5,952,000 after purchasing an additional 9,768 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on OKE shares. Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Barclays raised their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Stock Performance

NYSE OKE opened at $96.95 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a market cap of $56.64 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.69 and a beta of 1.70. The business’s 50 day moving average price is $104.51 and its 200-day moving average price is $97.23.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given 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 yield of 4.25%. ONEOK’s payout ratio is 82.85%.

ONEOK 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.