Integrity Alliance LLC. lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 254.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 32,018 shares of the utilities provider’s stock after acquiring an additional 22,975 shares during the period. Integrity Alliance LLC.’s holdings in ONEOK were worth $2,353,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Arvest Bank Trust Division grew its stake in shares of ONEOK by 28.9% during the fourth quarter. Arvest Bank Trust Division now owns 36,715 shares of the utilities provider’s stock worth $2,699,000 after acquiring an additional 8,223 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of ONEOK by 5.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 5,604 shares of the utilities provider’s stock worth $412,000 after acquiring an additional 288 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of ONEOK by 12.4% during the fourth quarter. Bleakley Financial Group LLC now owns 13,155 shares of the utilities provider’s stock worth $967,000 after acquiring an additional 1,451 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in shares of ONEOK by 9.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 18,886 shares of the utilities provider’s stock worth $1,388,000 after acquiring an additional 1,566 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of ONEOK by 101.6% during the fourth quarter. Allstate Corp now owns 46,445 shares of the utilities provider’s stock worth $3,414,000 after acquiring an additional 23,410 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
ONEOK Trading Down 2.5%
Shares of NYSE:OKE opened at $88.16 on Thursday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market capitalization of $55.54 billion, a PE ratio of 15.71, a PEG ratio of 6.58 and a beta of 0.78. The business has a 50 day moving average of $88.88 and a two-hundred day moving average of $81.11. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.
ONEOK Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. ONEOK’s payout ratio is presently 76.29%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on OKE shares. Raymond James Financial restated an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Citigroup upped their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.88.
Get Our Latest Analysis on ONEOK
ONEOK Profile
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.
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