Kayne Anderson Capital Advisors LP decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,288,510 shares of the utilities provider’s stock after selling 626,000 shares during the period. ONEOK makes up 8.6% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 3rd largest position. Kayne Anderson Capital Advisors LP owned 1.76% of ONEOK worth $537,076,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Ballentine Partners LLC grew its holdings in shares of ONEOK by 18.3% in the 2nd quarter. Ballentine Partners LLC now owns 25,538 shares of the utilities provider’s stock valued at $1,758,000 after buying an additional 3,955 shares during the period. Point72 Asset Management L.P. acquired a new position in ONEOK in the 2nd quarter worth $51,047,000. Retirement Systems of Alabama boosted its stake in ONEOK by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after purchasing an additional 822 shares during the period. Eqis Capital Management Inc. boosted its stake in ONEOK by 35.5% in the 2nd quarter. Eqis Capital Management Inc. now owns 15,465 shares of the utilities provider’s stock worth $1,064,000 after purchasing an additional 4,052 shares during the period. Finally, RFG Advisory LLC boosted its stake in ONEOK by 9.1% in the 2nd quarter. RFG Advisory LLC now owns 11,032 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 923 shares during the period. Institutional investors own 74.40% of the company’s stock.
Shares of ONEOK stock traded up $0.71 during trading hours on Friday, reaching $70.48. 1,755,013 shares of the company’s stock were exchanged, compared to its average volume of 1,912,538. The company has a 50 day moving average of $71.29 and a two-hundred day moving average of $69.30. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $77.21. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01. The stock has a market cap of $29.68 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.19%. This is an increase from ONEOK’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 131.65%.
A number of equities analysts recently weighed in on OKE shares. Barclays set a $79.00 target price on shares of ONEOK and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Goldman Sachs Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $73.00 to $81.00 in a research note on Sunday, November 3rd. UBS Group reduced their target price on shares of ONEOK from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Monday. Credit Suisse Group upped their target price on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Tudor Pickering started coverage on shares of ONEOK in a research note on Friday. They issued a “buy” rating and a $74.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $74.71.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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