ONEOK, Inc. (NYSE:OKE) Short Interest Update

ONEOK, Inc. (NYSE:OKE) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 13,930,000 shares, a growth of 23.5% from the October 31st total of 11,280,000 shares. Based on an average daily volume of 2,990,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research analyst reports. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group increased their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of OKE. DekaBank Deutsche Girozentrale lifted its holdings in shares of ONEOK by 1.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 124,244 shares of the utilities provider’s stock worth $9,864,000 after acquiring an additional 2,028 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ONEOK by 21.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,554 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 272 shares during the last quarter. GAMMA Investing LLC boosted its position in ONEOK by 51.9% in the second quarter. GAMMA Investing LLC now owns 8,276 shares of the utilities provider’s stock valued at $675,000 after buying an additional 2,826 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of ONEOK by 32.6% during the second quarter. First Hawaiian Bank now owns 11,939 shares of the utilities provider’s stock worth $974,000 after buying an additional 2,938 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of ONEOK by 7.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,431 shares of the utilities provider’s stock worth $280,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE:OKE traded down $3.17 during trading hours on Monday, reaching $110.43. 3,318,856 shares of the company were exchanged, compared to its average volume of 2,814,314. The company has a market capitalization of $64.51 billion, a P/E ratio of 23.10, a P/E/G ratio of 5.75 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The business has a 50 day moving average of $100.75 and a 200 day moving average of $90.13. ONEOK has a 1-year low of $65.49 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the company earned $0.99 earnings per share. Research analysts forecast that ONEOK will post 5.08 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.59%. ONEOK’s payout ratio is 82.85%.

ONEOK Company Profile

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.