SPC Financial Inc. Sells 22,746 Shares of ONEOK, Inc. $OKE

SPC Financial Inc. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 70.1% in the third quarter, Holdings Channel reports. The institutional investor owned 9,689 shares of the utilities provider’s stock after selling 22,746 shares during the period. SPC Financial Inc.’s holdings in ONEOK were worth $707,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OKE. City Holding Co. purchased a new position in shares of ONEOK in the 3rd quarter worth about $28,000. Winnow Wealth LLC bought a new stake in ONEOK during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new position in ONEOK in the third quarter worth about $29,000. Financial Consulate Inc. bought a new position in shares of ONEOK in the third quarter worth approximately $29,000. Finally, Access Investment Management LLC purchased a new stake in shares of ONEOK during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.8%

ONEOK stock opened at $81.89 on Monday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The company has a market cap of $51.53 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.65 and a beta of 0.96. 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 business has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $73.28.

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 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 yield of 5.2%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 78.68%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKE. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. UBS Group decreased their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group began coverage on ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, TD Cowen lowered their target price on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.