ONEOK, Inc. (NYSE:OKE) Short Interest Update

ONEOK, Inc. (NYSE:OKE) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 28,784,189 shares, an increase of 24.0% from the January 15th total of 23,204,148 shares. Based on an average daily volume of 5,363,763 shares, the days-to-cover ratio is presently 5.4 days. Approximately 4.6% of the shares of the stock are short sold. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily volume of 5,363,763 shares, the days-to-cover ratio is presently 5.4 days.

ONEOK Stock Down 0.7%

OKE stock traded down $0.61 during mid-day trading on Tuesday, hitting $85.50. 4,795,356 shares of the company were exchanged, compared to its average volume of 4,696,689. 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 has a 1-year low of $64.02 and a 1-year high of $103.64. The firm’s 50 day simple moving average is $76.19 and its 200 day simple moving average is $73.44. The firm has a market cap of $53.80 billion, a P/E ratio of 15.72, a P/E/G ratio of 4.89 and a beta of 0.96.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK’s dividend payout ratio is currently 78.68%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKE. Raymond James Financial restated an “outperform” rating and set a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. TD Cowen lowered their price objective on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Citigroup dropped their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Barclays decreased their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $85.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation National Association UT lifted its stake in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. City Holding Co. bought a new stake in shares of ONEOK in the third quarter worth $28,000. Winnow Wealth LLC acquired a new position in ONEOK during the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK in the third quarter valued at $29,000. Finally, Financial Consulate Inc. bought a new position in ONEOK in the third quarter valued at $29,000. 69.13% of the stock is owned by institutional investors and hedge funds.

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.