Wealthfront Advisers LLC Increases Holdings in ONEOK, Inc. $OKE

Wealthfront Advisers LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,700 shares of the utilities provider’s stock after purchasing an additional 7,041 shares during the quarter. Wealthfront Advisers LLC’s holdings in ONEOK were worth $6,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Assetmark Inc. increased its holdings in ONEOK by 84.0% during the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after buying an additional 1,848 shares during the period. National Pension Service boosted its position in ONEOK by 2.9% during the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after acquiring an additional 24,003 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in shares of ONEOK by 34.1% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after acquiring an additional 22,282 shares during the period. Meixler Investment Management Ltd. raised its position in shares of ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock worth $2,525,000 after acquiring an additional 17,714 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC lifted its stake in shares of ONEOK by 24.6% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock worth $6,687,000 after purchasing an additional 16,151 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. Wells Fargo & Company cut their price target on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Finally, Scotiabank reiterated an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.80.

ONEOK Trading Down 0.4%

NYSE:OKE opened at $84.55 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64. The firm has a fifty day simple moving average of $75.57 and a 200-day simple moving average of $73.46. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $53.20 billion, a P/E ratio of 15.54, a PEG ratio of 4.82 and a beta of 0.96.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is presently 78.68%.

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.