Prime Capital Investment Advisors LLC Buys 6,439 Shares of ONEOK, Inc. $OKE

Prime Capital Investment Advisors LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 11.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after buying an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares in the last quarter. Geode Capital Management LLC increased its stake in ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after acquiring an additional 355,751 shares during the last quarter. Invesco Ltd. increased its position in shares of ONEOK by 0.6% during the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after purchasing an additional 46,892 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of ONEOK in the 2nd quarter worth about $562,832,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.8%

NYSE:OKE opened at $81.89 on Friday. The company’s fifty day moving average price is $74.80 and its 200-day moving average price is $73.39. The firm has a market capitalization of $51.53 billion, a P/E ratio of 15.05, a PEG ratio of 4.57 and a beta of 0.96. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued 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 payout ratio is presently 78.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKE shares. TD Cowen cut their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. UBS Group cut their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a research report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $87.31.

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.