SPC Financial Inc. Reduces Position in ONEOK, Inc. $OKE

SPC Financial Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 70.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,689 shares of the utilities provider’s stock after selling 22,746 shares during the quarter. SPC Financial Inc.’s holdings in ONEOK were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC boosted its position in ONEOK by 106.6% during the 3rd quarter. Fullcircle Wealth LLC now owns 15,777 shares of the utilities provider’s stock valued at $1,151,000 after buying an additional 8,140 shares during the period. First Dallas Securities Inc. raised its stake in shares of ONEOK by 2.6% during the third quarter. First Dallas Securities Inc. now owns 73,113 shares of the utilities provider’s stock valued at $5,335,000 after acquiring an additional 1,860 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of ONEOK by 16.0% during the third quarter. Smartleaf Asset Management LLC now owns 11,609 shares of the utilities provider’s stock worth $849,000 after purchasing an additional 1,604 shares during the period. Alps Advisors Inc. grew its stake in shares of ONEOK by 16.9% in the third quarter. Alps Advisors Inc. now owns 654,162 shares of the utilities provider’s stock worth $47,734,000 after purchasing an additional 94,543 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan increased its holdings in ONEOK by 7.5% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 11,134 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 780 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OKE shares. Wells Fargo & Company dropped their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Jefferies Financial Group started coverage on shares of ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target on the stock. Citigroup reduced 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. Finally, Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $87.31.

ONEOK Price Performance

Shares of OKE stock opened at $81.89 on Monday. The business’s fifty day moving average is $74.80 and its 200 day moving average is $73.28. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock 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, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64.

ONEOK Increases Dividend

The firm also recently declared 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. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.2%. ONEOK’s dividend payout ratio is 78.68%.

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.