Mill Creek Capital Advisors LLC Makes New $615,000 Investment in ONEOK, Inc. (NYSE:OKE)

Mill Creek Capital Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,121 shares of the utilities provider’s stock, valued at approximately $615,000.

Several other hedge funds have also recently modified their holdings of OKE. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of ONEOK by 219.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 2,965 shares during the period. Ritholtz Wealth Management purchased a new position in shares of ONEOK during the 3rd quarter worth approximately $206,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of ONEOK by 28.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,233 shares of the utilities provider’s stock valued at $751,000 after buying an additional 1,826 shares during the period. ORG Wealth Partners LLC acquired a new position in ONEOK during the third quarter worth $106,000. Finally, Oxler Private Wealth LLC raised its position in ONEOK by 1.2% in the third quarter. Oxler Private Wealth LLC now owns 46,729 shares of the utilities provider’s stock worth $4,258,000 after acquiring an additional 537 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OKE. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

ONEOK Stock Up 3.0 %

OKE opened at $98.65 on Tuesday. ONEOK, Inc. has a 12 month low of $68.65 and a 12 month high of $118.07. The business has a 50-day moving average of $102.92 and a two-hundred day moving average of $97.70. The stock has a market capitalization of $57.63 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is 86.19%.

ONEOK 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.