Naples Global Advisors LLC Has $339,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Naples Global Advisors LLC lowered its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 16.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,379 shares of the utilities provider’s stock after selling 683 shares during the period. Naples Global Advisors LLC’s holdings in ONEOK were worth $339,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. National Pension Service raised its holdings in shares of ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after buying an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of ONEOK by 3.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after buying an additional 5,175 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings 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 worth $4,972,000 after buying an additional 5,451 shares in the last quarter. FNY Investment Advisers LLC grew its position in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after acquiring an additional 21,847 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after acquiring an additional 5,321 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank began coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. 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, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

ONEOK Stock Down 1.0 %

OKE stock opened at $97.96 on Friday. The stock’s 50 day simple moving average is $102.01 and its 200 day simple moving average is $97.94. ONEOK, Inc. has a fifty-two week low of $69.01 and a fifty-two week high of $118.07. 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 company has a market cap of $57.23 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. ONEOK’s dividend 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.