Rockline Wealth Management LLC Makes New $214,000 Investment in ONEOK, Inc. (NYSE:OKE)

Rockline Wealth Management LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,134 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other hedge funds also recently modified their holdings of OKE. Matrix Trust Co acquired a new stake in shares of ONEOK during the third quarter valued at about $29,000. Kieckhefer Group LLC acquired a new stake in ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Values First Advisors Inc. acquired a new position in ONEOK in the 3rd quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC raised its stake 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 valued at $45,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $97.65 on Tuesday. The firm has a market capitalization of $57.05 billion, a P/E ratio of 20.43, a P/E/G ratio of 3.69 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The stock has a 50 day moving average price of $104.51 and a two-hundred day moving average price of $97.23. 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.22%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent research reports. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

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.