198,299 Shares in ONEOK, Inc. (NYSE:OKE) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 198,299 shares of the utilities provider’s stock, valued at approximately $19,909,000. ONEOK makes up 1.0% of Cinctive Capital Management LP’s investment portfolio, making the stock its 15th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of ONEOK during the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC purchased a new stake in ONEOK in the fourth quarter worth $50,000. Finally, OFI Invest Asset Management bought a new stake in ONEOK in the fourth quarter valued at $51,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OKE. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Morgan Stanley lifted their price objective on ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Wells Fargo & Company dropped their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $99.37 on Wednesday. The company has a 50 day moving average of $97.91 and a 200 day moving average of $100.36. 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, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The firm has a market cap of $62.04 billion, a P/E ratio of 20.79, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.15%. ONEOK’s payout ratio is currently 79.69%.

ONEOK 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.