Short Interest in ONEOK, Inc. (NYSE:OKE) Rises By 48.6%

ONEOK, Inc. (NYSE:OKE) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 22,900,000 shares, a growth of 48.6% from the January 15th total of 15,410,000 shares. Based on an average trading volume of 3,580,000 shares, the days-to-cover ratio is presently 6.4 days.

ONEOK Price Performance

OKE stock opened at $97.96 on Friday. ONEOK has a 52 week low of $69.01 and a 52 week high of $118.07. The firm has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70. The company has a fifty day simple moving average of $101.79 and a two-hundred day simple moving average of $98.05. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.21%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 86.19%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Barclays started coverage on shares of ONEOK in a report on Thursday, February 6th. They set an “equal weight” rating and a $105.00 price target on the stock. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. UBS Group boosted 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. Truist Financial increased their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management purchased a new stake in ONEOK during the 3rd quarter valued at $206,000. Creative Planning raised its stake in shares of ONEOK by 3.2% in the third quarter. Creative Planning now owns 241,031 shares of the utilities provider’s stock valued at $21,965,000 after acquiring an additional 7,467 shares during the period. Magnus Financial Group LLC purchased a new position in shares of ONEOK during the 3rd quarter worth about $216,000. Asset Dedication LLC boosted its stake in shares of ONEOK by 318.9% during the 3rd quarter. Asset Dedication LLC now owns 2,367 shares of the utilities provider’s stock worth $216,000 after purchasing an additional 1,802 shares during the period. Finally, SeaCrest Wealth Management LLC grew its holdings in ONEOK by 21.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 7,903 shares of the utilities provider’s stock valued at $720,000 after purchasing an additional 1,403 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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.