Peregrine Asset Advisers Inc. Has $2.67 Million Holdings in ONEOK, Inc. $OKE

Peregrine Asset Advisers Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 32.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,636 shares of the utilities provider’s stock after selling 17,675 shares during the period. Peregrine Asset Advisers Inc.’s holdings in ONEOK were worth $2,673,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. City Holding Co. acquired a new position in shares of ONEOK in the third quarter valued at $28,000. Winnow Wealth LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK during the 3rd quarter worth about $29,000. Financial Consulate Inc. acquired a new position in ONEOK in the 3rd quarter valued at about $29,000. Finally, Access Investment Management LLC bought a new position in ONEOK in the 2nd quarter valued at about $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE OKE opened at $78.26 on Wednesday. The firm’s 50 day simple moving average is $74.25 and its 200 day simple moving average is $73.29. The firm has a market capitalization of $49.24 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 4.28 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.5%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is currently 78.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKE. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, November 6th. TD Cowen lowered their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Barclays dropped their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. UBS Group decreased their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus set a $94.00 price objective on shares of ONEOK in a research note on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus target price of $87.31.

ONEOK Company 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.