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

Townsquare Capital LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 65.1% during the third quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Banyan Capital Management Inc. purchased a new stake in ONEOK during the 3rd quarter worth approximately $255,000. Benedict Financial Advisors Inc. grew its stake in shares of ONEOK by 12.6% in the third quarter. Benedict Financial Advisors Inc. now owns 14,778 shares of the utilities provider’s stock worth $1,078,000 after acquiring an additional 1,648 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of ONEOK by 52.3% in the third quarter. Foundations Investment Advisors LLC now owns 15,408 shares of the utilities provider’s stock valued at $1,124,000 after acquiring an additional 5,294 shares in the last quarter. AE Wealth Management LLC boosted its holdings in ONEOK by 8.6% in the third quarter. AE Wealth Management LLC now owns 190,260 shares of the utilities provider’s stock valued at $13,884,000 after purchasing an additional 15,024 shares during the period. Finally, Traynor Capital Management Inc. acquired a new position in ONEOK during the 3rd quarter worth $842,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OKE shares. UBS Group reduced their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, November 6th. Scotiabank reiterated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price (down previously from $100.00) on shares of ONEOK in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $87.31.

ONEOK Stock Performance

Shares of OKE stock opened at $79.21 on Friday. The stock’s 50-day moving average is $74.01 and its two-hundred day moving average is $73.40. 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 1 year low of $64.02 and a 1 year high of $103.64. The firm has a market cap of $49.84 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 4.49 and a beta of 0.94.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.4%. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s dividend payout ratio is presently 75.74%.

Insiders Place Their Bets

In other news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

About ONEOK

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.