ONEOK, Inc. (NYSE:OKE) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 104,211 shares of the utilities provider’s stock after acquiring an additional 4,054 shares during the period. ONEOK accounts for 0.7% of Tectonic Advisors LLC’s portfolio, making the stock its 27th biggest position. Tectonic Advisors LLC’s holdings in ONEOK were worth $10,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in OKE. National Pension Service boosted its stake in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after acquiring an additional 12,349 shares during the last quarter. Leavell Investment Management Inc. grew its stake in ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of ONEOK by 11.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after acquiring an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in shares of ONEOK by 14,279.1% during the fourth quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of ONEOK by 57.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $97.03 on Wednesday. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average of $103.91 and a two-hundred day moving average of $97.42. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend 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 dividend yield of 4.25%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Truist Financial boosted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Seven investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.