NEOS Investment Management LLC Increases Stake in ONEOK, Inc. $OKE

NEOS Investment Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 46.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,351 shares of the utilities provider’s stock after purchasing an additional 25,159 shares during the period. NEOS Investment Management LLC’s holdings in ONEOK were worth $5,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Winnow Wealth LLC purchased a new position in ONEOK in the 3rd quarter worth $28,000. City Holding Co. acquired a new stake in shares of ONEOK during the third quarter worth about $28,000. Global Wealth Strategies & Associates purchased a new stake in ONEOK in the third quarter valued at approximately $29,000. Financial Consulate Inc. acquired a new position in ONEOK in the 3rd quarter worth approximately $29,000. Finally, Access Investment Management LLC acquired a new stake in ONEOK during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKE. Barclays cut their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Scotiabank reaffirmed an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Stifel Nicolaus set a $94.00 price objective on ONEOK in a report on Thursday, October 30th. Jefferies Financial Group assumed coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 target price on the stock. Finally, JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $87.00 to $83.00 in a research report on Tuesday, January 27th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.80.

ONEOK Price Performance

NYSE:OKE opened at $86.77 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The stock’s 50-day moving average price is $76.46 and its 200-day moving average price is $73.53. The stock has a market capitalization of $54.60 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 4.86 and a beta of 0.96.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is presently 78.68%.

ONEOK 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.