Cushing Asset Management LP lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,799,380 shares of the utilities provider’s stock after selling 139,760 shares during the period. ONEOK comprises 2.9% of Cushing Asset Management LP’s investment portfolio, making the stock its 10th biggest holding. Cushing Asset Management LP’s holdings in ONEOK were worth $96,176,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Delpha Capital Management LLC acquired a new stake in shares of ONEOK in the 4th quarter worth about $134,000. Tower Research Capital LLC TRC raised its holdings in shares of ONEOK by 562.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 2,322 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth about $150,000. Sun Life Financial INC raised its holdings in shares of ONEOK by 82.1% in the 3rd quarter. Sun Life Financial INC now owns 2,796 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 1,261 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth about $169,000. Institutional investors own 68.50% of the company’s stock.
Shares of ONEOK, Inc. (NYSE:OKE) opened at $57.59 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.66 and a quick ratio of 0.50. The company has a market cap of $23,480.00, a PE ratio of 59.37, a price-to-earnings-growth ratio of 2.89 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 also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th were paid a $0.77 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, January 26th. This represents a $3.08 annualized dividend and a yield of 5.35%. ONEOK’s dividend payout ratio (DPR) is 317.53%.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $56.70, for a total value of $124,740.00. Following the completion of the sale, the vice president now owns 31,244 shares in the company, valued at approximately $1,771,534.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.
OKE has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Royal Bank of Canada upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Credit Suisse Group initiated coverage on shares of ONEOK in a report on Monday, January 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $58.00 to $67.00 in a report on Wednesday, January 17th. Finally, Robert W. Baird set a $55.00 target price on shares of ONEOK and gave the stock a “hold” rating in a report on Wednesday, February 28th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.29.
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ONEOK Company Profile
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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