ONEOK, Inc. (NYSE:OKE) Short Interest Up 24.0% in January

ONEOK, Inc. (NYSE:OKE) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 28,784,189 shares, an increase of 24.0% from the January 15th total of 23,204,148 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average trading volume of 5,363,763 shares, the short-interest ratio is presently 5.4 days. Based on an average trading volume of 5,363,763 shares, the short-interest ratio is presently 5.4 days. Approximately 4.6% of the shares of the company are sold short.

Institutional Trading of ONEOK

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Zions Bancorporation National Association UT lifted its holdings in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Winnow Wealth LLC acquired a new position in shares of ONEOK in the third quarter valued at approximately $28,000. City Holding Co. purchased a new position in shares of ONEOK during the third quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new stake in ONEOK during the fourth quarter worth approximately $29,000. Finally, Global Wealth Strategies & Associates purchased a new stake in ONEOK in the 3rd quarter worth approximately $29,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE stock traded up $1.49 during mid-day trading on Monday, reaching $86.09. The stock had a trading volume of 3,987,652 shares, compared to its average volume of 4,696,689. The company has a market cap of $54.17 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. ONEOK has a 12-month low of $64.02 and a 12-month high of $103.64. The business has a 50-day simple moving average of $75.76 and a 200 day simple moving average of $73.36.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK’s payout ratio is currently 78.68%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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 price objective on the stock. Wells Fargo & Company decreased their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. Citigroup dropped their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Barclays reduced their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average target price of $85.80.

About ONEOK

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.