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

Cinctive Capital Management LP bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 198,299 shares of the utilities provider's stock, valued at approximately $19,909,000. ONEOK accounts for about 1.0% of Cinctive Capital Management LP's portfolio, making the stock its 15th biggest position.

Several other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in ONEOK by 11.7% in the 3rd quarter. FMR LLC now owns 1,171,917 shares of the utilities provider's stock valued at $106,797,000 after acquiring an additional 122,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in ONEOK by 4.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,721 shares of the utilities provider's stock worth $430,000 after purchasing an additional 200 shares during the period. Kestra Investment Management LLC bought a new position in ONEOK in the third quarter worth $206,000. Hilltop Holdings Inc. boosted its stake in ONEOK by 36.7% during the third quarter. Hilltop Holdings Inc. now owns 24,538 shares of the utilities provider's stock worth $2,236,000 after buying an additional 6,584 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in ONEOK by 3.8% in the 3rd quarter. HighTower Advisors LLC now owns 406,984 shares of the utilities provider's stock valued at $37,080,000 after buying an additional 14,910 shares during the period. 69.13% of the stock is owned by institutional investors.

ONEOK Trading Down 3.3 %

OKE traded down $2.64 during trading on Monday, reaching $78.22. 5,339,191 shares of the company's stock were exchanged, compared to its average volume of 4,099,102. The company's fifty day moving average price is $97.08 and its 200-day moving average price is $100.30. The firm has a market capitalization of $48.83 billion, a PE ratio of 16.41, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a fifty-two week low of $75.47 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping 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 business had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.18 billion. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.27%. This is an increase from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OKE. Scotiabank reduced their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Citigroup began coverage on ONEOK in a research report on Friday, February 28th. They set a "buy" rating and a $110.00 target price for the company. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

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.