Navellier & Associates Inc. Boosts Position in ONEOK, Inc. (NYSE:OKE)

Navellier & Associates Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 27.2% during the 4th quarter, Holdings Channel reports. The fund owned 8,935 shares of the utilities provider’s stock after buying an additional 1,909 shares during the quarter. Navellier & Associates Inc.’s holdings in ONEOK were worth $897,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kieckhefer Group LLC purchased a new stake in ONEOK in the 4th quarter valued at about $30,000. Access Investment Management LLC purchased a new stake in ONEOK in the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter worth about $44,000. Fortitude Family Office LLC increased its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc increased its stake 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 purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OKE shares. Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Barclays started coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven equities research 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Performance

Shares of OKE opened at $98.07 on Friday. The stock has a 50 day moving average price of $101.19 and a 200 day moving average price of $98.76. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $57.29 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $72.44 and a 52-week high of $118.07.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.20%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is 86.19%.

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.