Chicago Capital LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

Chicago Capital LLC cut its stake in ONEOK, Inc. (NYSE:OKE) by 2.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,582 shares of the utilities provider’s stock after selling 432 shares during the period. Chicago Capital LLC’s holdings in ONEOK were worth $1,564,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of OKE. International Assets Investment Management LLC lifted its position in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in ONEOK in the third quarter worth $47,957,000. Yaupon Capital Management LP bought a new stake in ONEOK in the third quarter worth $45,194,000. Finally, National Bank of Canada FI lifted its position in ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after buying an additional 465,243 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

OKE opened at $96.95 on Monday. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The firm has a market capitalization of $56.64 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business’s 50-day moving average is $104.51 and its two-hundred day moving average is $97.14.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Barclays lifted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Scotiabank initiated coverage on ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.