SVB Wealth LLC Raises Holdings in ONEOK, Inc. (NYSE:OKE)

SVB Wealth LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,019 shares of the utilities provider’s stock after purchasing an additional 1,193 shares during the period. SVB Wealth LLC’s holdings in ONEOK were worth $1,476,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in ONEOK during the 3rd quarter valued at $25,000. First Command Bank boosted its stake in ONEOK by 401.0% during the 2nd quarter. First Command Bank now owns 491 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 393 shares during the last quarter. Beacon Capital Management LLC boosted its stake in ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 194 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of ONEOK during the 4th quarter valued at $29,000. Finally, Worth Asset Management LLC bought a new position in shares of ONEOK during the 1st quarter valued at $30,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKE. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Mizuho increased their price target on ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a report on Wednesday, March 20th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Raymond James raised their target price on ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and an average price target of $82.25.

ONEOK Price Performance

NYSE:OKE opened at $77.88 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The business’s 50-day simple moving average is $76.53 and its two-hundred day simple moving average is $70.91. The stock has a market cap of $45.45 billion, a PE ratio of 14.03, a P/E/G ratio of 4.75 and a beta of 1.65. ONEOK, Inc. has a 52 week low of $55.91 and a 52 week high of $80.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the prior year, the business earned $1.08 earnings per share. As a group, analysts forecast that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 5.08%. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% 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.