Shell Asset Management Co. Has $1.53 Million Stock Holdings in ONEOK, Inc. $OKE

Shell Asset Management Co. reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 35.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,999 shares of the utilities provider’s stock after selling 11,364 shares during the quarter. Shell Asset Management Co.’s holdings in ONEOK were worth $1,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in shares of ONEOK in the third quarter worth approximately $28,000. City Holding Co. bought a new stake in ONEOK during the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK during the 3rd quarter valued at $29,000. Financial Consulate Inc. purchased a new position in ONEOK during the 3rd quarter worth $29,000. Finally, Access Investment Management LLC bought a new stake in shares of ONEOK in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OKE shares. Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Jefferies Financial Group began coverage on ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Finally, 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. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average target price of $85.80.

ONEOK Stock Performance

NYSE OKE opened at $86.09 on Monday. The firm 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 quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average is $75.76 and its 200-day moving average is $73.36. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64.

ONEOK Increases Dividend

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