Catalyst Capital Advisors LLC Sells 14,288 Shares of ONEOK, Inc. (OKE)
Catalyst Capital Advisors LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 124,345 shares of the utilities provider’s stock after selling 14,288 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in ONEOK were worth $6,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 269.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock worth $739,659,000 after buying an additional 9,737,701 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in ONEOK by 184.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after buying an additional 6,148,494 shares during the period. Neuberger Berman Group LLC boosted its holdings in ONEOK by 3.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock worth $520,782,000 after buying an additional 300,031 shares during the period. Bank of New York Mellon Corp boosted its holdings in ONEOK by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,724,860 shares of the utilities provider’s stock worth $428,034,000 after buying an additional 899,502 shares during the period. Finally, Harvest Fund Advisors LLC bought a new position in ONEOK in the 3rd quarter worth $414,256,000. 66.59% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday. Mizuho reaffirmed a “hold” rating and issued a $61.00 target price on shares of ONEOK in a report on Tuesday, January 23rd. Credit Suisse Group assumed coverage on shares of ONEOK in a report on Monday, January 8th. They issued an “outperform” rating and a $62.00 target price for the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $64.00 target price on shares of ONEOK in a report on Tuesday, January 16th. Finally, Wells Fargo & Co raised shares of ONEOK from a “market perform” rating to an “outperform” rating in a report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. ONEOK has an average rating of “Buy” and a consensus target price of $60.15.
Shares of ONEOK, Inc. (NYSE:OKE) opened at $56.55 on Tuesday. The company has a market cap of $23,050.00, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. ONEOK, Inc. has a one year low of $47.14 and a one year high of $61.36. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be paid a $0.77 dividend. The ex-dividend date is Friday, January 26th. This represents a $3.08 annualized dividend and a yield of 5.45%. This is a boost from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s payout ratio is presently 192.50%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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