AlphaQuest LLC Decreases Stock Position in ONEOK, Inc. $OKE

AlphaQuest LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 85.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,582 shares of the utilities provider’s stock after selling 9,096 shares during the quarter. AlphaQuest LLC’s holdings in ONEOK were worth $115,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in OKE. City Holding Co. purchased a new position in shares of ONEOK in the third quarter valued at about $28,000. Global Wealth Strategies & Associates bought a new position in shares of ONEOK during the third quarter valued at approximately $29,000. Financial Consulate Inc. purchased a new stake in ONEOK in the third quarter worth $29,000. Access Investment Management LLC purchased a new stake in ONEOK in the second quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in ONEOK in the second quarter valued at $34,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.8%

Shares of OKE stock opened at $86.09 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The stock has a fifty day simple moving average of $75.76 and a two-hundred day simple moving average of $73.49. The firm has a market capitalization of $54.17 billion, a PE ratio of 15.82, a PEG ratio of 4.80 and a beta of 0.96. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is 78.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group decreased their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, November 6th. 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 note on Friday, October 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a research report on Wednesday, January 28th. Finally, Scotiabank restated an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.80.

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.