Texas Yale Capital Corp. Has $8.43 Million Stake in ONEOK, Inc. $OKE

Texas Yale Capital Corp. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 15.4% during the third quarter, Holdings Channel reports. The fund owned 115,523 shares of the utilities provider’s stock after acquiring an additional 15,450 shares during the quarter. Texas Yale Capital Corp.’s holdings in ONEOK were worth $8,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its holdings in ONEOK by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 216,033 shares of the utilities provider’s stock valued at $15,764,000 after purchasing an additional 9,030 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ONEOK by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 185,614 shares of the utilities provider’s stock valued at $13,544,000 after purchasing an additional 3,813 shares during the last quarter. ABN Amro Investment Solutions bought a new position in shares of ONEOK in the third quarter valued at about $4,451,000. Uniting Wealth Partners LLC acquired a new stake in ONEOK during the third quarter worth approximately $351,000. Finally, Aberdeen Group plc lifted its position in ONEOK by 0.3% during the third quarter. Aberdeen Group plc now owns 656,009 shares of the utilities provider’s stock worth $47,265,000 after acquiring an additional 2,215 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OKE shares. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Wells Fargo & Company dropped their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. 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 research report on Friday, October 24th. Scotiabank reaffirmed an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Finally, Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.80.

ONEOK Stock Up 1.8%

OKE stock opened at $86.09 on Monday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week 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. 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 has a market cap of $54.17 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders 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 of this dividend was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. ONEOK’s payout ratio is currently 78.68%.

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.