Cleararc Capital Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,111 shares of the company’s stock after selling 30 shares during the period. Cleararc Capital Inc.’s holdings in ONEOK were worth $293,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in ONEOK by 87.1% in the third quarter. BNP Paribas Arbitrage SA now owns 66,373 shares of the company’s stock valued at $3,411,000 after buying an additional 30,897 shares in the last quarter. ELCO Management Co. LLC bought a new stake in ONEOK during the third quarter valued at approximately $3,739,000. Commerce Bank boosted its stake in ONEOK by 6.2% in the third quarter. Commerce Bank now owns 34,051 shares of the company’s stock valued at $1,750,000 after buying an additional 2,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ONEOK by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 571,117 shares of the company’s stock valued at $29,348,000 after buying an additional 56,019 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in ONEOK by 7.3% in the third quarter. BlackRock Fund Advisors now owns 12,451,431 shares of the company’s stock valued at $639,879,000 after buying an additional 846,397 shares in the last quarter. 72.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of ONEOK, Inc. (NYSE:OKE) traded down 1.42% during mid-day trading on Tuesday, hitting $54.24. 732,392 shares of the company traded hands. ONEOK, Inc. has a one year low of $19.94 and a one year high of $59.47. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 40.06 and a beta of 1.19. The firm has a 50-day moving average of $56.28 and a 200-day moving average of $51.61.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 30th will be issued a $0.615 dividend. The ex-dividend date of this dividend is Thursday, January 26th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.47%. ONEOK’s payout ratio is currently 182.22%.
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Several equities research analysts recently commented on OKE shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $54.00 price objective (up from $49.00) on shares of ONEOK in a research report on Sunday, December 4th. Zacks Investment Research lowered shares of ONEOK from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 3rd. RBC Capital Markets reiterated a “hold” rating and issued a $58.00 price target on shares of ONEOK in a research note on Friday, January 6th. Citigroup Inc. lowered shares of ONEOK from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 25th. Finally, Barclays PLC lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $49.00 to $58.00 in a research note on Tuesday, December 13th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. ONEOK presently has an average rating of “Hold” and an average target price of $50.25.
ONEOK Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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