ONEOK, Inc. (NYSE:OKE) Sees Significant Decline in Short Interest

ONEOK, Inc. (NYSE:OKEGet Rating) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 5,460,000 shares, a decline of 25.9% from the March 15th total of 7,370,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average trading volume of 2,920,000 shares, the days-to-cover ratio is currently 1.9 days.

Shares of OKE opened at $71.30 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 0.75. The stock has a market capitalization of $31.84 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.23 and a beta of 1.80. The company’s fifty day moving average is $67.01 and its two-hundred day moving average is $63.57. ONEOK has a 1 year low of $48.51 and a 1 year high of $72.37.

ONEOK (NYSE:OKEGet Rating) last announced its quarterly earnings data on Monday, February 28th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.03). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $4.34 billion. ONEOK had a net margin of 9.07% and a return on equity of 25.14%. During the same period in the prior year, the firm posted $0.69 earnings per share. Sell-side analysts predict that ONEOK will post 3.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 14th. Shareholders of record on Monday, January 31st were paid a $0.935 dividend. The ex-dividend date of this dividend was Friday, January 28th. This represents a $3.74 annualized dividend and a yield of 5.25%. ONEOK’s dividend payout ratio is currently 111.31%.

OKE has been the subject of several recent analyst reports. Wolfe Research downgraded shares of ONEOK from a “peer perform” rating to an “underperform” rating in a research report on Monday, January 10th. The Goldman Sachs Group upgraded shares of ONEOK from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $58.00 to $68.00 in a research report on Thursday, January 13th. They noted that the move was a valuation call. Barclays reduced their price objective on shares of ONEOK from $66.00 to $65.00 in a research report on Thursday, January 20th. StockNews.com initiated coverage on shares of ONEOK in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Mizuho boosted their price objective on shares of ONEOK from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $65.64.

In related news, Director Mark W. Helderman sold 30,000 shares of ONEOK stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $67.27, for a total value of $2,018,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.63% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in OKE. CVA Family Office LLC acquired a new position in shares of ONEOK during the 4th quarter worth $28,000. Elmwood Wealth Management Inc. acquired a new position in shares of ONEOK during the 4th quarter worth $29,000. City State Bank acquired a new position in shares of ONEOK during the 4th quarter worth $29,000. Financial Management Professionals Inc. grew its stake in shares of ONEOK by 289.5% during the 3rd quarter. Financial Management Professionals Inc. now owns 518 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 385 shares during the period. Finally, Missouri Trust & Investment Co acquired a new position in shares of ONEOK during the 4th quarter worth $30,000. 64.90% of the stock is currently owned by institutional investors.

ONEOK Company Profile (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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