Jones Financial Companies Lllp Increases Position in ONEOK, Inc. $OKE

Jones Financial Companies Lllp increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 29.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 534,285 shares of the utilities provider’s stock after acquiring an additional 121,891 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.08% of ONEOK worth $39,401,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of OKE. Assetmark Inc. boosted its holdings in ONEOK by 84.0% in the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC boosted its holdings in shares of ONEOK by 18.2% in the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock valued at $2,235,000 after buying an additional 4,206 shares during the period. Hudson Edge Investment Partners Inc. grew its position in shares of ONEOK by 34.1% during the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after buying an additional 22,282 shares during the last quarter. Meixler Investment Management Ltd. raised its stake in ONEOK by 134.0% during the second quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after acquiring an additional 17,714 shares during the period. Finally, National Pension Service lifted its holdings in ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after acquiring an additional 24,003 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKE. Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Jefferies Financial Group assumed coverage on ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 target price on the stock. TD Cowen cut their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays lowered their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Eight 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, ONEOK currently has an average rating of “Hold” and an average target price of $87.31.

ONEOK Trading Down 4.9%

NYSE:OKE opened at $75.31 on Tuesday. The stock has a market cap of $47.39 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 4.53 and a beta of 0.94. 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, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64. The business has a fifty day moving average of $74.10 and a 200-day moving average of $73.32.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.7%. ONEOK’s dividend payout ratio 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.