Shell Asset Management Co. Sells 11,364 Shares of ONEOK, Inc. $OKE

Shell Asset Management Co. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 35.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,999 shares of the utilities provider’s stock after selling 11,364 shares during the quarter. Shell Asset Management Co.’s holdings in ONEOK were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. ABN Amro Investment Solutions bought a new stake in ONEOK during the 3rd quarter worth $4,451,000. Uniting Wealth Partners LLC bought a new stake in shares of ONEOK during the third quarter worth about $351,000. Aberdeen Group plc raised its holdings in ONEOK by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 656,009 shares of the utilities provider’s stock valued at $47,265,000 after buying an additional 2,215 shares during the last quarter. TT Capital Management LLC acquired a new stake in ONEOK during the 3rd quarter worth approximately $690,000. Finally, TCTC Holdings LLC grew its holdings in ONEOK by 447.4% during the 3rd quarter. TCTC Holdings LLC now owns 56,307 shares of the utilities provider’s stock worth $4,109,000 after acquiring an additional 46,020 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $86.09 on Monday. The firm has a 50 day moving average of $75.76 and a 200-day moving average of $73.36. The company has a market cap of $54.17 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. 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, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio is presently 78.68%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. UBS Group lowered their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average target price of $85.80.

ONEOK Profile

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.