ONEOK, Inc. $OKE Stock Position Raised by Capital Management Corp VA

Capital Management Corp VA lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 49.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,882 shares of the utilities provider’s stock after purchasing an additional 75,450 shares during the period. ONEOK makes up about 2.6% of Capital Management Corp VA’s holdings, making the stock its 16th biggest position. Capital Management Corp VA’s holdings in ONEOK were worth $16,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northcape Wealth Management LLC acquired a new stake in ONEOK during the 3rd quarter worth about $251,000. Mutual Advisors LLC increased its position in shares of ONEOK by 3.4% in the third quarter. Mutual Advisors LLC now owns 11,438 shares of the utilities provider’s stock worth $798,000 after acquiring an additional 371 shares in the last quarter. Donaldson Capital Management LLC raised its holdings in shares of ONEOK by 9.5% during the third quarter. Donaldson Capital Management LLC now owns 20,735 shares of the utilities provider’s stock valued at $1,513,000 after acquiring an additional 1,805 shares during the period. Lee Financial Co lifted its position in shares of ONEOK by 22.1% in the 3rd quarter. Lee Financial Co now owns 27,145 shares of the utilities provider’s stock valued at $1,981,000 after acquiring an additional 4,910 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in ONEOK by 1.2% in the 3rd quarter. Independent Advisor Alliance now owns 23,677 shares of the utilities provider’s stock worth $1,728,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

ONEOK Stock Up 0.8%

Shares of ONEOK stock opened at $79.21 on Friday. The firm has a market cap of $49.84 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 4.49 and a beta of 0.94. The stock has a 50-day simple moving average of $74.01 and a 200-day simple moving average of $73.40. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week 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 firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be given a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is presently 75.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Wells Fargo & Company dropped their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Scotiabank restated an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Finally, UBS Group decreased their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

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.