ONEOK, Inc. $OKE Shares Purchased by Capital Management Corp VA

Capital Management Corp VA grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 49.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,882 shares of the utilities provider’s stock after buying an additional 75,450 shares during the period. ONEOK comprises 2.6% of Capital Management Corp VA’s portfolio, making the stock its 16th largest position. Capital Management Corp VA’s holdings in ONEOK were worth $16,702,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OKE. Vanguard Group Inc. increased its stake in ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after purchasing an additional 1,314,002 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 2.3% in the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after acquiring an additional 355,751 shares during the period. Invesco Ltd. boosted its position in ONEOK by 0.6% during the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after purchasing an additional 46,892 shares during the period. Finally, Norges Bank acquired a new position in shares of ONEOK during the second quarter valued at $562,832,000. 69.13% of the stock is currently owned by institutional investors.

Insider Activity at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Thursday, November 6th. Barclays reduced their price target on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.31.

ONEOK Trading Up 0.8%

Shares of ONEOK stock opened at $79.21 on Friday. The business has a fifty day simple moving average of $74.01 and a 200-day simple moving average of $73.40. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The firm has a market cap of $49.84 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.4%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is presently 75.74%.

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.