ONEOK, Inc. (NYSE:OKE) Short Interest Update

ONEOK, Inc. (NYSE:OKE) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 9,790,000 shares, a drop of 13.7% from the February 28th total of 11,340,000 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 3,950,000 shares, the short-interest ratio is currently 2.5 days.

ONEOK Price Performance

ONEOK stock opened at $92.78 on Friday. The firm’s 50-day simple moving average is $97.55 and its 200 day simple moving average is $100.31. The firm has a market capitalization of $57.93 billion, a PE ratio of 19.41, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK has a 52 week low of $76.23 and a 52 week high of $118.07. 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 (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, equities research analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.44%. ONEOK’s dividend payout ratio (DPR) is 79.69%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target for the company. Barclays decreased 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 raised their target price on shares of ONEOK from $111.00 to $133.00 and gave the company 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 report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven investment 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. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth $30,000. Greenline Partners LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $32,000. Vermillion Wealth Management Inc. bought a new position in ONEOK during the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in ONEOK in the fourth quarter worth $39,000. Finally, Canton Hathaway LLC acquired a new position in shares of ONEOK during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

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.