Horseman Capital Management Ltd boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 68.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,000 shares of the utilities provider’s stock after purchasing an additional 17,000 shares during the period. Horseman Capital Management Ltd’s holdings in ONEOK were worth $2,245,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 269.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after purchasing an additional 9,737,701 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in ONEOK by 184.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after purchasing an additional 6,148,494 shares during the period. Neuberger Berman Group LLC increased its holdings in ONEOK by 3.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after purchasing an additional 300,031 shares during the period. Bank of New York Mellon Corp increased its holdings in ONEOK by 13.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,724,860 shares of the utilities provider’s stock valued at $428,034,000 after purchasing an additional 899,502 shares during the period. Finally, Harvest Fund Advisors LLC purchased a new position in ONEOK during the 3rd quarter valued at about $414,256,000. Institutional investors own 66.24% of the company’s stock.
Shares of ONEOK, Inc. (NYSE OKE) opened at $57.02 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $23,360.20, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26. ONEOK, Inc. has a 12-month low of $47.14 and a 12-month high of $61.36.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.40%. This is a boost from ONEOK’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, January 26th. ONEOK’s payout ratio is presently 192.50%.
OKE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. UBS Group boosted their price target on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $55.00 price target on shares of ONEOK in a report on Friday, November 3rd. Credit Suisse Group began coverage on ONEOK in a report on Monday, January 8th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, Bank of America began coverage on ONEOK in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.15.
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ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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