Alps Advisors Inc. Buys 94,543 Shares of ONEOK, Inc. $OKE

Alps Advisors Inc. raised its stake in ONEOK, Inc. (NYSE:OKE) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 654,162 shares of the utilities provider’s stock after buying an additional 94,543 shares during the period. Alps Advisors Inc.’s holdings in ONEOK were worth $47,734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after buying an additional 355,751 shares in the last quarter. Invesco Ltd. grew its position in ONEOK by 0.6% during 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 bought a new position in ONEOK during the second quarter valued at approximately $562,832,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

NYSE:OKE 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 firm’s fifty day simple moving average is $74.80 and its 200 day simple moving average is $73.34. The stock has a market cap of $51.53 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 4.65 and a beta of 0.96. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio is presently 78.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. JPMorgan Chase & Co. cut 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 research note on Tuesday, January 27th. Citigroup lowered their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. UBS Group reduced 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. Barclays decreased their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.