Cibc World Market Inc. Has $18.13 Million Stake in ONEOK, Inc. $OKE

Cibc World Market Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 20.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,455 shares of the utilities provider’s stock after purchasing an additional 42,951 shares during the quarter. Cibc World Market Inc.’s holdings in ONEOK were worth $18,130,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Empowered Funds LLC boosted its stake in ONEOK by 0.8% in the 1st 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 period. Acadian Asset Management LLC acquired a new position in ONEOK in the 1st quarter valued at $216,000. CWM LLC increased its position in ONEOK by 3.1% during the 2nd quarter. CWM LLC now owns 43,703 shares of the utilities provider’s stock worth $3,567,000 after buying an additional 1,323 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of ONEOK by 6.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 377,882 shares of the utilities provider’s stock worth $30,605,000 after buying an additional 24,378 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKE shares. Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 target price on shares of ONEOK in a report on Monday, November 3rd. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. UBS Group lowered 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. Finally, Barclays dropped their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and a consensus target price of $85.80.

ONEOK Price Performance

Shares of NYSE:OKE opened at $84.55 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The firm has a market cap of $53.20 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 4.82 and a beta of 0.96. The firm’s fifty day moving average is $75.57 and its 200-day moving average is $73.46.

ONEOK Increases Dividend

The business 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 $1.07 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.1%. ONEOK’s payout ratio is currently 78.68%.

ONEOK Company 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.