NEOS Investment Management LLC Grows Stake in ONEOK, Inc. $OKE

NEOS Investment Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 46.4% in the 3rd quarter, Holdings Channel reports. The firm owned 79,351 shares of the utilities provider’s stock after purchasing an additional 25,159 shares during the period. NEOS Investment Management LLC’s holdings in ONEOK were worth $5,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OKE. Empowered Funds LLC boosted its stake in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of ONEOK by 4.3% during the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 142 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of ONEOK by 4.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 144 shares during the last quarter. Silver Lake Advisory LLC grew its holdings in shares of ONEOK by 1.4% in the third quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock valued at $787,000 after purchasing an additional 147 shares during the period. Finally, Alternative Investment Advisors LLC. grew its holdings in shares of ONEOK by 1.2% in the second quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock valued at $1,019,000 after purchasing an additional 148 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

NYSE:OKE opened at $86.77 on Thursday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. The company has a 50 day moving average price of $76.46 and a 200 day moving average price of $73.53. The stock has a market capitalization of $54.60 billion, a P/E ratio of 15.95, a PEG ratio of 4.86 and a beta of 0.96.

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 $1.07 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. ONEOK’s payout ratio is presently 78.68%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of analyst reports. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, November 6th. Morgan Stanley restated an “overweight” rating and set a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. Stifel Nicolaus set a $94.00 price objective on ONEOK in a report on Thursday, October 30th. Barclays lowered their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target 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.