J.W. Cole Advisors Inc. Sells 8,446 Shares of ONEOK, Inc. $OKE

J.W. Cole Advisors Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 34.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,748 shares of the utilities provider’s stock after selling 8,446 shares during the period. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of ONEOK in the 2nd quarter valued at approximately $562,832,000. First Eagle Investment Management LLC raised its position in ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after acquiring an additional 3,545,256 shares in the last quarter. Boston Partners raised its position in ONEOK by 53.7% during the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after acquiring an additional 1,924,864 shares in the last quarter. Vanguard Group Inc. lifted its stake in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares during the last quarter. Finally, Man Group plc grew its position in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after acquiring an additional 1,161,352 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of NYSE OKE opened at $81.89 on Monday. The firm 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. The business’s 50 day moving average is $74.80 and its 200-day moving average is $73.28. 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.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued 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 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is 78.68%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OKE. TD Cowen cut their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research note on Monday, November 3rd. UBS Group decreased their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.