J.W. Cole Advisors Inc. Has $1.15 Million Position in ONEOK, Inc. $OKE

J.W. Cole Advisors Inc. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 34.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,748 shares of the utilities provider’s stock after selling 8,446 shares during the period. J.W. Cole Advisors Inc.’s holdings in ONEOK were worth $1,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Vanguard Group Inc. raised its holdings in ONEOK by 1.7% in the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after buying an additional 613,674 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ONEOK by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after buying an additional 355,751 shares in the last quarter. Invesco Ltd. raised its stake in ONEOK by 0.6% during the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after buying an additional 46,892 shares during the period. Finally, Norges Bank bought a new position in ONEOK during the second quarter worth about $562,832,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.8%

NYSE:OKE opened at $81.89 on Monday. The company has a market cap of $51.53 billion, a P/E ratio of 15.05, a price-to-earnings-growth 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. The business has a 50 day moving average price of $74.80 and a two-hundred day moving average price of $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.

ONEOK Increases Dividend

The firm also recently announced 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 yield of 5.2%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is 78.68%.

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. UBS Group lowered their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a report on Thursday, October 30th. Citigroup cut their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.31.

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.