ONEOK, Inc. $OKE Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in ONEOK, Inc. (NYSE:OKE) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 77,222,590 shares of the utilities provider’s stock after acquiring an additional 711,619 shares during the quarter. Vanguard Group Inc. owned 12.27% of ONEOK worth $5,634,932,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Texas Yale Capital Corp. lifted its holdings in ONEOK by 15.4% during the third quarter. Texas Yale Capital Corp. now owns 115,523 shares of the utilities provider’s stock valued at $8,430,000 after purchasing an additional 15,450 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of ONEOK by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 216,033 shares of the utilities provider’s stock worth $15,764,000 after purchasing an additional 9,030 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of ONEOK by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 185,614 shares of the utilities provider’s stock worth $13,544,000 after purchasing an additional 3,813 shares during the last quarter. ABN Amro Investment Solutions purchased a new position in ONEOK in the 3rd quarter valued at about $4,451,000. Finally, Uniting Wealth Partners LLC acquired a new stake in ONEOK in the 3rd quarter worth about $351,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on OKE shares. Morgan Stanley reissued an “overweight” rating and set a $104.00 target price on shares of ONEOK in a report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Scotiabank reiterated an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Barclays reduced their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, UBS Group decreased their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.80.

ONEOK Price Performance

OKE stock opened at $85.50 on Wednesday. The company has a market cap of $53.80 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. 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 stock has a 50-day moving average price of $76.19 and a two-hundred day moving average price of $73.44. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid 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 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, February 2nd. ONEOK’s payout ratio is presently 78.68%.

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.