DAVENPORT & Co LLC Boosts Stake in ONEOK, Inc. (NYSE:OKE)

DAVENPORT & Co LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,676 shares of the utilities provider’s stock after purchasing an additional 605 shares during the quarter. DAVENPORT & Co LLC’s holdings in ONEOK were worth $9,907,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ONEOK in the 3rd quarter worth about $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $45,194,000. Finally, National Bank of Canada FI lifted its holdings in shares of ONEOK by 199.9% in the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after acquiring an additional 465,243 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $96.95 on Monday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock’s fifty day moving average price is $104.51 and its 200-day moving average price is $97.14. The firm has a market cap of $56.64 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.81 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.25%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 82.85%.

Analysts Set New Price Targets

A number of brokerages have issued reports on OKE. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.