ONEOK, Inc. $OKE Position Boosted by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 29.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 534,285 shares of the utilities provider’s stock after acquiring an additional 121,891 shares during the quarter. Jones Financial Companies Lllp’s holdings in ONEOK were worth $39,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OKE. Bogart Wealth LLC boosted its stake in shares of ONEOK by 3.1% during the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 122 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Focused Wealth Management Inc lifted its holdings in shares of ONEOK by 4.3% during the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 142 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of ONEOK by 4.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after purchasing an additional 144 shares during the period. Finally, Silver Lake Advisory LLC increased its stake in ONEOK by 1.4% in the 3rd quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock worth $787,000 after purchasing an additional 147 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $87.00 to $83.00 in a research report on Tuesday, January 27th. Morgan Stanley reiterated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Stifel Nicolaus set a $94.00 target price on ONEOK in a report on Thursday, October 30th. Finally, Barclays decreased their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.31.

ONEOK Trading Down 4.9%

NYSE OKE opened at $75.31 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The firm’s fifty day simple moving average is $74.10 and its 200-day simple moving average is $73.32. The company has a market capitalization of $47.39 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 4.53 and a beta of 0.94.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 5.7%. ONEOK’s dividend payout ratio (DPR) is 78.68%.

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.