Waterloo Capital L.P. Has $2.26 Million Stock Position in ONEOK, Inc. $OKE

Waterloo Capital L.P. lessened its stake in ONEOK, Inc. (NYSE:OKE) by 17.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 30,972 shares of the utilities provider’s stock after selling 6,335 shares during the quarter. Waterloo Capital L.P.’s holdings in ONEOK were worth $2,260,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKE. Vanguard Group Inc. raised its position in ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ONEOK by 2.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after acquiring an additional 613,674 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after acquiring an additional 355,751 shares during the period. Invesco Ltd. boosted its holdings in ONEOK by 0.6% in the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after acquiring an additional 46,892 shares during the last quarter. Finally, Norges Bank acquired a new stake in ONEOK in the second quarter worth about $562,832,000. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Scotiabank reissued an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, UBS Group dropped their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and an average price target of $87.31.

ONEOK Price Performance

Shares of ONEOK stock opened at $81.89 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $51.53 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 4.57 and a beta of 0.96. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $73.39.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be given a $1.07 dividend. The ex-dividend date is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.2%. ONEOK’s dividend payout ratio (DPR) is presently 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.