ONEOK, Inc. (NYSE:OKE) Short Interest Down 13.7% in March

ONEOK, Inc. (NYSE:OKE) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 9,790,000 shares, a decrease of 13.7% from the February 28th total of 11,340,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 3,950,000 shares, the days-to-cover ratio is currently 2.5 days.

ONEOK Stock Up 0.9 %

NYSE OKE traded up $0.89 during trading hours on Wednesday, reaching $100.39. 699,307 shares of the company traded hands, compared to its average volume of 3,024,212. The stock has a market capitalization of $62.68 billion, a PE ratio of 21.00, a PEG ratio of 3.77 and a beta of 1.70. ONEOK has a 12 month low of $76.23 and a 12 month high of $118.07. The company has a 50 day moving average of $97.91 and a two-hundred day moving average of $100.36. 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 (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. As a group, equities analysts expect that ONEOK will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.10%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is 79.69%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays reduced their target price on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company reduced their price objective 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. Scotiabank dropped their price objective on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Citigroup assumed coverage on shares of ONEOK in a research report on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.

Hedge Funds Weigh In On ONEOK

Hedge funds have recently made changes to their positions in the business. Centre Asset Management LLC raised its holdings in shares of ONEOK by 3.6% during the first quarter. Centre Asset Management LLC now owns 13,934 shares of the utilities provider’s stock valued at $1,383,000 after acquiring an additional 489 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in ONEOK by 10.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 4,741 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 444 shares in the last quarter. Fulcrum Equity Management raised its position in ONEOK by 0.9% during the fourth quarter. Fulcrum Equity Management now owns 47,110 shares of the utilities provider’s stock valued at $4,730,000 after acquiring an additional 429 shares in the last quarter. Chancellor Financial Group WB LP bought a new stake in ONEOK in the fourth quarter worth $239,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in ONEOK by 10.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,665 shares of the utilities provider’s stock valued at $24,163,000 after purchasing an additional 22,121 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.