Sei Investments Co. Increases Position in ONEOK, Inc. (NYSE:OKE)

Sei Investments Co. grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 42.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 157,815 shares of the utilities provider’s stock after acquiring an additional 46,865 shares during the period. Sei Investments Co.’s holdings in ONEOK were worth $11,911,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tarbox Family Office Inc. raised its stake in shares of ONEOK by 113.1% during the fourth quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Northern Oak Wealth Management Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $26,000. Duncker Streett & Co. Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $26,000. M&R Capital Management Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $30,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $31,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on OKE. Tudor Pickering began coverage on shares of ONEOK in a research note on Friday, November 8th. They set a “buy” rating and a $74.00 price target for the company. ValuEngine raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James decreased their price target on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Scotiabank began coverage on shares of ONEOK in a research note on Tuesday, January 28th. They issued a “sector outperform” rating and a $84.00 price objective for the company. Finally, Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. ONEOK currently has an average rating of “Hold” and a consensus target price of $75.60.

NYSE:OKE traded up $0.75 during trading hours on Thursday, reaching $77.50. The company’s stock had a trading volume of 101,460 shares, compared to its average volume of 1,729,387. The company has a market capitalization of $31.78 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. ONEOK, Inc. has a 12 month low of $63.13 and a 12 month high of $77.26. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a 50 day moving average price of $75.90 and a two-hundred day moving average price of $72.63.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, January 27th were given a dividend of $0.935 per share. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from ONEOK’s previous quarterly dividend of $0.92. This represents a $3.74 dividend on an annualized basis and a dividend yield of 4.83%. ONEOK’s dividend payout ratio is presently 134.53%.

In other ONEOK news, Director Mark W. Helderman purchased 6,094 shares of ONEOK stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $73.36 per share, with a total value of $447,055.84. Also, CAO Mary M. Spears sold 2,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.85, for a total value of $143,700.00. Following the transaction, the chief accounting officer now directly owns 10,263 shares in the company, valued at $737,396.55. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

Further Reading: Real Estate Investment Trust (REIT) ETF

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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