Silverlake Wealth Management LLC Trims Stake in ONEOK, Inc. (NYSE:OKE)

Silverlake Wealth Management LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 22,720 shares of the utilities provider’s stock after selling 148 shares during the period. ONEOK makes up 0.9% of Silverlake Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Silverlake Wealth Management LLC’s holdings in ONEOK were worth $2,281,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth approximately $30,000. Matrix Trust Co acquired a new stake in ONEOK during the 3rd quarter valued at $29,000. Access Investment Management LLC acquired a new stake in ONEOK during the 3rd quarter valued at $37,000. Values First Advisors Inc. acquired a new stake in ONEOK during the 3rd quarter valued at $44,000. Finally, Fortitude Family Office LLC boosted its holdings 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 worth $45,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OKE shares. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank assumed 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. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Trading Down 0.6 %

OKE opened at $97.03 on Wednesday. The firm’s fifty day moving average is $104.24 and its two-hundred day moving average is $97.33. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $56.68 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.