TD Waterhouse Canada Inc. Decreases Stock Position in ONEOK, Inc. $OKE

TD Waterhouse Canada Inc. trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 95.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354 shares of the utilities provider’s stock after selling 7,478 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in ONEOK were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Traynor Capital Management Inc. bought a new position in shares of ONEOK in the third quarter worth approximately $842,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in ONEOK by 1.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 669,882 shares of the utilities provider’s stock worth $48,881,000 after acquiring an additional 10,935 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of ONEOK by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 4,862,530 shares of the utilities provider’s stock valued at $354,819,000 after acquiring an additional 21,732 shares during the period. Mystic Asset Management Inc. raised its stake in shares of ONEOK by 21.7% during the third quarter. Mystic Asset Management Inc. now owns 9,093 shares of the utilities provider’s stock valued at $664,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of ONEOK by 5.9% during the third quarter. Truist Financial Corp now owns 206,390 shares of the utilities provider’s stock worth $15,060,000 after purchasing an additional 11,534 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of OKE opened at $80.45 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a market capitalization of $50.62 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The firm has a 50 day moving average of $74.61 and a 200 day moving average of $73.38. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, February 2nd. This represents a $4.28 annualized dividend and a yield of 5.3%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is currently 78.68%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OKE. Wells Fargo & Company lowered their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Barclays decreased their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. TD Cowen cut their price target on shares of ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Finally, Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $87.31.

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.