Texas Yale Capital Corp. Acquires 15,450 Shares of ONEOK, Inc. $OKE

Texas Yale Capital Corp. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,523 shares of the utilities provider’s stock after purchasing an additional 15,450 shares during the quarter. Texas Yale Capital Corp.’s holdings in ONEOK were worth $8,430,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC boosted its stake in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the period. Acadian Asset Management LLC bought a new position in ONEOK during the 1st quarter worth about $216,000. Mutual Advisors LLC raised its stake in shares of ONEOK by 6.9% in the 2nd quarter. Mutual Advisors LLC now owns 11,067 shares of the utilities provider’s stock valued at $902,000 after purchasing an additional 715 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of ONEOK by 5.1% in the 2nd quarter. Nordea Investment Management AB now owns 722,818 shares of the utilities provider’s stock valued at $58,902,000 after purchasing an additional 35,359 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 1.8%

Shares of ONEOK stock opened at $86.09 on Monday. The stock has a market cap of $54.17 billion, a P/E ratio of 15.82, a P/E/G 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 12-month low of $64.02 and a 12-month high of $103.64. The business’s 50 day moving average is $75.76 and its 200-day moving average is $73.36.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is presently 78.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OKE shares. UBS Group reduced 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. Citigroup reduced their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Finally, Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $85.80.

ONEOK Company 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.