Redpoint Investment Management Pty Ltd Decreases Holdings in ONEOK, Inc. (OKE)

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Redpoint Investment Management Pty Ltd trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 16.4% during the fourth quarter, HoldingsChannel reports. The firm owned 41,004 shares of the utilities provider’s stock after selling 8,045 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in ONEOK were worth $2,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC increased its holdings in shares of ONEOK by 142.4% during the 4th quarter. Reilly Financial Advisors LLC now owns 497 shares of the utilities provider’s stock worth $27,000 after buying an additional 292 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $61,000. Enterprise Financial Services Corp increased its holdings in shares of ONEOK by 20.7% during the 4th quarter. Enterprise Financial Services Corp now owns 1,599 shares of the utilities provider’s stock worth $86,000 after buying an additional 274 shares during the last quarter. JNBA Financial Advisors increased its holdings in shares of ONEOK by 827.4% during the 3rd quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock worth $138,000 after buying an additional 1,812 shares during the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $140,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

ONEOK stock opened at $65.05 on Tuesday. ONEOK, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $71.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.51. The company has a market capitalization of $26.75 billion, a P/E ratio of 36.96, a P/E/G ratio of 2.36 and a beta of 1.20.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, January 28th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 5.29%. The ex-dividend date is Friday, January 25th. This is an increase from ONEOK’s previous quarterly dividend of $0.86. ONEOK’s dividend payout ratio (DPR) is 195.45%.

A number of brokerages have recently issued reports on OKE. Barclays set a $66.00 price target on shares of ONEOK and gave the stock a “hold” rating in a report on Wednesday, January 16th. SunTrust Banks began coverage on shares of ONEOK in a report on Friday, January 18th. They set a “buy” rating and a $72.00 price target for the company. Raymond James began coverage on shares of ONEOK in a report on Thursday, January 10th. They set a “strong-buy” rating and a $72.00 price target for the company. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, October 19th. Finally, JPMorgan Chase & Co. upgraded shares of ONEOK from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $75.00 to $74.00 in a report on Tuesday, January 8th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $70.24.

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ONEOK Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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