ONEOK

OKE

ONEOK, Inc. (pronounced "One-Oak") is a diversified Fortune 500 corporation based in Tulsa, Oklahoma. ONEOK was founded in 1906 as Oklahoma Natural Gas Company, but It changed its corporate name to ONEOK in December 1980. It also owns major natural gas liquids (NGL) systems due to the 2005 acquisition of Koch Industries natural gas businesses. ONEOK's Energy Services operation focuses primarily on marketing natural gas and related services throughout the U.S. Energy Services, which derives more than 84 percent of its earnings from the physical marketing business, showed an operating income increase of $26.5 million. Energy Services’ retail business participates in customer gas choice program in Nebraska and Wyoming. On December 22, 2005, The ONEOK Foundation said it would donate $1 million this winter to assist residents in Oklahoma, Kansas and Texas with their energy bills.In 2007, Fortune magazine named ONEOK the most admired company in the energy industry.ONEOK's predecessor, Oklahoma Natural Gas Company (ONG), had been headquartered in an Art Deco building on the northwest corner of Seventh Street and Boston Avenue in Tulsa since 1928. In 1982, ONEOK chairman, J. E. Tyree, announced plans to demolish the ONG building and replace it with a new 16-story tower. However, this did not happen. Instead, ONEOK bought a new Cities Service Company building still under construction (later renamed Citgo) in August, 1982.

ONEOK has been a target of short sellers for a while. The current short interest of 4.13% is roughly at the average of the last 12 months (3.74%).