Wealthstar Advisors LLC Invests $673,000 in ONEOK, Inc. (NYSE:OKE)

Wealthstar Advisors LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,705 shares of the utilities provider’s stock, valued at approximately $673,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in shares of ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC acquired a new stake in ONEOK in the 3rd quarter valued at about $37,000. Values First Advisors Inc. purchased a new position in ONEOK in the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC boosted its holdings in shares of ONEOK by 37.4% during the 3rd 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. Finally, Versant Capital Management Inc grew its position in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

OKE stock opened at $95.75 on Monday. The business’s fifty day moving average price is $102.92 and its 200 day moving average price is $97.59. ONEOK, Inc. has a 12-month low of $68.21 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $55.94 billion, a PE ratio of 20.03, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OKE shares. UBS Group lifted 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. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, Barclays started coverage on shares of ONEOK in a report on Thursday. They set an “equal weight” rating and a $105.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.42.

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.