Horseman Capital Management Ltd boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 68.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,000 shares of the utilities provider’s stock after buying an additional 17,000 shares during the period. Horseman Capital Management Ltd’s holdings in ONEOK were worth $2,245,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 269.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after purchasing an additional 9,737,701 shares in the last quarter. Harvest Fund Advisors LLC purchased a new stake in ONEOK during the third quarter valued at about $414,256,000. Kayne Anderson Capital Advisors LP raised its position in ONEOK by 184.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after purchasing an additional 6,148,494 shares in the last quarter. Center Coast Capital Advisors LP purchased a new stake in ONEOK during the third quarter valued at about $99,520,000. Finally, Miller Howard Investments Inc. NY raised its position in ONEOK by 141.2% during the third quarter. Miller Howard Investments Inc. NY now owns 2,146,396 shares of the utilities provider’s stock valued at $118,932,000 after purchasing an additional 1,256,525 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on ONEOK from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Mizuho restated a “hold” rating and set a $61.00 price target on shares of ONEOK in a research report on Tuesday, January 23rd. Barclays upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $58.00 to $67.00 in a research report on Wednesday, January 17th. BMO Capital Markets restated a “buy” rating and set a $64.00 price target on shares of ONEOK in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $60.15.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th were issued a $0.77 dividend. The ex-dividend date was Friday, January 26th. This represents a $3.08 annualized dividend and a dividend yield of 5.40%. This is an increase from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s payout ratio is currently 192.50%.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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