ONEOK, Inc. $OKE Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 11.6% in the 3rd quarter, Holdings Channel reports. The firm owned 61,872 shares of the utilities provider’s stock after purchasing an additional 6,439 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ONEOK were worth $4,515,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new stake in shares of ONEOK in the third quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates acquired a new stake in ONEOK during the third quarter worth $29,000. Financial Consulate Inc. acquired a new stake in shares of ONEOK during the 3rd quarter worth about $29,000. Finally, Access Investment Management LLC purchased a new stake in shares of ONEOK in the 2nd quarter valued at approximately $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKE. Barclays cut their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Jefferies Financial Group started coverage on shares of ONEOK in a report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target for the company. TD Cowen dropped their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Scotiabank reiterated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th. Finally, Stifel Nicolaus set a $94.00 price target on ONEOK in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.31.

ONEOK Stock Up 1.8%

ONEOK stock opened at $81.89 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The company has a market cap of $51.53 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 4.57 and a beta of 0.96. The stock’s 50 day moving average price is $74.80 and its 200 day moving average price is $73.39.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.2%. ONEOK’s dividend payout ratio is presently 78.68%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.