ONEOK, Inc. $OKE Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 65.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,394 shares of the utilities provider’s stock after selling 6,342 shares during the quarter. Townsquare Capital LLC’s holdings in ONEOK were worth $248,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 613,674 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ONEOK by 2.3% in 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 buying an additional 355,751 shares during the last quarter. Invesco Ltd. lifted its stake in shares of ONEOK by 0.6% in the second quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after buying an additional 46,892 shares in the last quarter. Finally, Norges Bank acquired a new position in ONEOK during the second quarter worth about $562,832,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.8%

Shares of OKE opened at $79.21 on Friday. The company’s 50-day moving average price is $74.01 and its 200 day moving average price is $73.40. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The firm has a market cap of $49.84 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a $1.07 dividend. The ex-dividend date is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.4%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. TD Cowen cut their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Thursday, November 6th. Finally, Scotiabank reiterated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.31.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

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.