Alps Advisors Inc. Has $47.73 Million Stock Position in ONEOK, Inc. $OKE

Alps Advisors Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,162 shares of the utilities provider’s stock after purchasing an additional 94,543 shares during the quarter. Alps Advisors Inc. owned about 0.10% of ONEOK worth $47,734,000 at the end of the most recent reporting period.

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

ONEOK Trading Up 1.8%

Shares of ONEOK stock opened at $81.89 on Friday. The company’s 50-day moving average price is $74.80 and its 200-day moving average price is $73.34. 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 12-month low of $64.02 and a 12-month high of $103.64. The company has a market cap of $51.53 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.65 and a beta of 0.96.

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 $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.2%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is 78.68%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OKE shares. Scotiabank reissued an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Jefferies Financial Group initiated coverage on ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. Raymond James Financial restated an “outperform” rating and set a $82.00 price target (down previously from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Finally, Citigroup lowered their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Eight equities research 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 presently has a consensus rating of “Hold” and an average target price of $87.31.

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.