Empowered Funds LLC Has $1.79 Million Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Empowered Funds LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 80.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,820 shares of the utilities provider’s stock after purchasing an additional 7,936 shares during the period. Empowered Funds LLC’s holdings in ONEOK were worth $1,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Advisory Resource Group grew its holdings in ONEOK by 1.5% during the fourth quarter. Advisory Resource Group now owns 13,339 shares of the utilities provider’s stock valued at $1,339,000 after purchasing an additional 201 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of ONEOK by 1.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,778 shares of the utilities provider’s stock worth $1,484,000 after acquiring an additional 247 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of ONEOK in the fourth quarter worth $2,392,000. Kingsview Wealth Management LLC grew its stake in shares of ONEOK by 31.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 40,498 shares of the utilities provider’s stock worth $4,066,000 after acquiring an additional 9,676 shares during the last quarter. Finally, Conning Inc. grew its stake in shares of ONEOK by 7.1% in the fourth quarter. Conning Inc. now owns 11,558 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 762 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Scotiabank initiated coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. Finally, Truist Financial raised their price objective 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. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.92.

ONEOK Stock Down 1.0 %

Shares of NYSE OKE opened at $97.96 on Friday. The stock has a market cap of $57.23 billion, a PE ratio of 20.49, a PEG ratio of 3.67 and a beta of 1.70. The business has a fifty day moving average of $101.79 and a two-hundred day moving average of $98.05. ONEOK, Inc. has a 52-week low of $69.01 and a 52-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.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.21%. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

ONEOK Company 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.